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Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts | 3 Months Ended
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Sep. 30, 2018
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract] |
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts | 9. Reinsurance assets and policyholder liabilities under insurance and investment contracts Reinsurance assets and policyholder liabilities under insurance contracts Summarized below is the movement in reinsurance assets and policyholder liabilities under insurance contracts during the three months ended September 30, 2018:
|  | Reinsurance |  |  | Insurance |
|  | assets(1) |  |  | contracts(2) |
Balance as of June 30, 2018 | $ | 633 |  | $ | (2,032 | )
Increase in policyholder benefits under insurance contracts |  | 169 |  |  | (2,901 | )
Claims and policyholders' benefits under insurance contracts. |  | (164 | ) |  | 2,690 |
Foreign currency adjustment(3) |  | (19 | ) |  | 61 |
Balance as of September 30, 2018 | $ | 619 |  | $ | (2,182 | )
(1) Included in other long-term assets. |  |  |  |  |  |
(2) Included in other long-term liabilities. |  |  |  |  |  |
(3) Represents the effects of the fluctuations between the ZAR and the U.S. dollar.
The Company has agreements with reinsurance companies in order to limit its losses from certain insurance contracts, however, if the reinsurer is unable to meet its obligations, the Company retains the liability. The Company determines its reserves for policy benefits under its life insurance products using a model which estimates claims incurred that have not been reported and total present value of disability claims-in-payment at the balance sheet date. This model allows for best estimate assumptions based on experience (where sufficient) plus prescribed margins, as required in the markets in which these products are offered, namely South Africa. The best estimate assumptions include (i) mortality and morbidity assumptions reflecting the company's most recent experience and (ii) claim reporting delays reflecting Company specific and industry experience. Most of the disability claims-in-payment reserve is reinsured and the reported values were based on the reserve held by the relevant reinsurer. Assets and policyholder liabilities under investment contracts Summarized below is the movement in assets and policyholder liabilities under investment contracts during the three months ended September 30, 2018:
|  |  |  |  | Investment |
|  | Assets(1) |  |  | contracts(2) |
Balance as of June 30, 2018 | $ | 610 |  | $ | (610 | )
Increase in policyholder benefits under investment contracts |  | 6 |  |  | (6 | )
Foreign currency adjustment(3) |  | (18 | ) |  | 18 |
Balance as of September 30, 2018 | $ | 598 |  | $ | (598 | )
(1) Included in other long-term assets. |  |  |  |  |  |
(2) Included in other long-term liabilities. |  |  |  |  |  |
(3) Represents the effects of the fluctuations between the ZAR and 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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