Sun Life 2012 Annual Report Download - page 141

Changes in investment contract liabilities with DPF are as follows:
For the years ended December 31, 2012 2011
Balance as at January 1 $ 487 $ 540
Change in liabilities on in-force (7) (74)
Liabilities arising from new policies 26 9
Changes in assumptions or methodology ––
Increase (decrease) in liabilities 19 (65)
Liabilities before the following: 506 475
Foreign exchange rate movements (10) 12
Balance as at December 31 $ 496 $ 487
11.C Total Assets Supporting Liabilities and Equity
The following tables show the total assets supporting total liabilities for the product lines shown (including insurance contract and
investment contract liabilities) and assets supporting equity and other:
As at December 31, 2012
FVTPL
– debt
securities
AFS
– debt
securities
FVTPL
– equity
securities
AFS
– equity
securities
Mortgages
and
loans
Investment
properties Other Total
Individual participating life $ 15,312 $ – $ 2,691 $ – $ 6,034 $ 4,167 $ 4,152 $ 32,356
Individual non-participating life 10,766 140 1,025 13 4,742 1,041 7,341 25,068
Group Life 807 – 10 – 1,345 28 963 3,153
Individual annuities 9,633 456 261 – 5,253 – 1,102 16,705
Group annuities 3,564 – 78 – 4,228 41 301 8,212
Health insurance 3,529 – 104 – 5,243 176 1,618 10,670
Equity and other 162 9,993 – 844 403 489 10,005 21,896
Total assets from Continuing
operations 43,773 10,589 4,169 857 27,248 5,942 25,482 118,060
Assets of disposal group held for
sale – –––– –15,067 15,067
Total assets $ 43,773 $ 10,589 $ 4,169 $ 857 $ 27,248 $ 5,942 $ 40,549 $ 133,127
As at December 31, 2011
FVTPL
– debt
securities
AFS
– debt
securities
FVTPL
– equity
securities
AFS
– equity
securities
Mortgages
and
loans
Investment
properties Other Total
Individual participating life $ 15,227 $ – $ 2,274 $ – $ 5,588 $ 3,658 $ 5,033 $ 31,780
Individual non-participating life(1) 11,247 479 995 9 4,670 699 8,353 26,452
Group Life 879 – 8 – 1,293 26 965 3,171
Individual annuities 15,982 382 273 – 6,984 15 3,639 27,275
Group annuities 4,226 169 83 1 4,120 168 650 9,417
Health insurance 3,996 – 98 – 4,694 133 1,144 10,065
Equity and other(1) 70 10,273 – 829 406 614 9,719 21,911
Total assets $ 51,627 $ 11,303 $ 3,731 $ 839 $ 27,755 $ 5,313 $ 29,503 $ 130,071
(1) Balances have been restated. Refer to Note 2.
11.D Role of the Appointed Actuary
The Appointed Actuary is appointed by the Board and is responsible for ensuring that the assumptions and methods used in the
valuation of policy liabilities are in accordance with Canadian accepted actuarial practice, applicable legislation and associated
regulations or directives.
The Appointed Actuary is required to provide an opinion regarding the appropriateness of the policy liabilities at the statement dates to
meet all obligations to policyholders of the Company. Examination of supporting data for accuracy and completeness and analysis of
our assets for their ability to support the amount of policy liabilities are important elements of the work required to form this opinion.
The Appointed Actuary is required each year to analyze the financial condition of the Company and prepare a report for the Board. The
2012 analysis tested our capital adequacy until December 31, 2016, under various adverse economic and business conditions. The
Appointed Actuary reviews the calculation of our Canadian capital and surplus requirements. In addition, our foreign operations and
foreign subsidiaries must comply with local capital requirements in each of the jurisdictions in which they operate.
Notes to Consolidated Financial Statements Sun Life Financial Inc. Annual Report 2012 139