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Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts | 6 Months Ended
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Dec. 31, 2016
Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts [Abstract] |
Reinsurance Assets And Policy Holder Liabilities Under Insurance And Investment Contracts | 8. Reinsurance assets and policy holder liabilities under insurance and investment contracts Reinsurance assets and policy holder liabilities under insurance contracts Summarized below is the movement in reinsurance assets and policy holder liabilities under insurance contracts during the six months ended December 31, 2016:
|  | Reinsurance |  |  | Insurance |
|  | assets(1) |  |  | contracts(2) |
Balance as of June 30, 2016 | $ | 171 |  | $ | (1,078 | )
Increase in policy holder benefits under insurance contracts |  | 365 |  |  | (1,811 | )
Claims and policyholders' benefits under insurance contracts |  | (353 | ) |  | 1,375 |
Foreign currency adjustment(3) |  | 13 |  |  | (82 | )
Balance as of December 31, 2016 | $ | 196 |  | $ | (1,596 | )
(1) Included in other long-term assets. |  |  |  |  |  |
(2) Included in other long-term liabilities. |  |  |  |  |  |
(3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar.
The Company has agreements with reinsurance companies in order to limit its losses from large insurance contracts, however, if the reinsurer is unable to meet its obligations, the Company retains the liability. The Company determines its reserves for future policy benefits under its life insurance products using a model which estimates claims incurred that have not been reported at the balance sheet date. This model includes best estimate assumptions of experience plus prescribed margins, as required in the markets in which these products are offered, namely South Africa. The best estimate assumptions include those assumptions related to mortality, morbidity and claim reporting delays, and the main assumptions used to calculate the reserve for future policy benefits include (i) mortality and morbidity assumptions reflecting the company's most recent experience and (ii) claim reporting delays reflecting Company specific and industry experience. Assets and policy holder liabilities under investment contracts Summarized below is the movement in assets and policy holder liabilities under investment contracts during the six months ended December 31, 2016:
|  |  |  |  | Investment |
|  | Assets(1) |  |  | contracts(2) |
Balance as of June 30, 2016 | $ | 528 |  | $ | (528 | )
Increase in policy holder benefits under investment contracts . |  | 18 |  |  | (18 | )
Maturity of claims under investment contracts |  | (13 | ) |  | 13 |
Foreign currency adjustment(3) |  | 41 |  |  | (41 | )
Balance as of December 31, 2016 | $ | 574 |  | $ | (574 | )
(1) Included in other long-term assets. |  |  |  |  |  |
(2) Included in other long-term liabilities. |  |  |  |  |  |
(3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar.
The Company does not offer any investment products with guarantees related to capital or returns.

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6816-158387 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27374-158547 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.6,13) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27795-158548 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27703-158548 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 310 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6485557&loc=d3e21549-158491 + Details
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