Sun Life 2015 Annual Report Download - page 144

Changes in investment contract liabilities with DPF are as follows:
For the years ended December 31, 2015 2014
Balance as at January 1 $ 661 $ 584
Change in liabilities on in-force (85) 2
Liabilities arising from new policies 13 25
Increase (decrease) in liabilities (72) 27
Foreign exchange rate movements 112 50
Balance as at December 31 $ 701 $ 661
11.C Gross Claims and Benefits Paid
Gross claims and benefits paid consist of the following:
For the years ended December 31, 2015 2014
Maturities and surrenders $ 2,913 $ 2,953
Annuity payments 1,865 1,327(1)
Death and disability benefits 3,499 3,242(1)
Health benefits 4,650 4,213
Policyholder dividends and interest on claims and deposits 1,159 1,081
Total gross claims and benefits paid $ 14,086 $ 12,816
(1) Balances have been changed to conform with current year presentation.
11.D 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, 2015
Debt
securities
Equity
securities
Mortgages
and loans
Investment
properties Other Total
Individual participating life $ 18,658 $ 2,715 $ 7,278 $ 4,463 $ 5,292 $ 38,406
Individual non-participating life 17,141 1,596 9,544 1,046 9,245 38,572
Group life 679 18 1,429 – 1,610 3,736
Individual annuities 12,969 29 5,597 – 1,237 19,832
Group annuities 5,150 38 5,538 – 768 11,494
Health insurance 3,545 30 6,781 – 2,540 12,896
Equity and other 11,754 887 2,936 1,031 13,869 30,477
Total assets $ 69,896 $ 5,313 $ 39,103 $ 6,540 $ 34,561 $ 155,413
As at December 31, 2014
Debt
securities
Equity
securities
Mortgages
and loans
Investment
properties Other Total
Individual participating life $ 17,825 $ 2,785 $ 6,709 $ 4,282 $ 4,634 $ 36,235
Individual non-participating life 14,984(1) 1,367 6,809 841 10,095(1) 34,096(1)
Group life 735 12 1,368 – 1,255 3,370
Individual annuities 12,047(1) 16 5,702 – 1,338(1) 19,103(1)
Group annuities 4,574 24 4,905 – 384 9,887
Health insurance 4,243 153 6,229 85 1,709 12,419
Equity and other 11,806 866 1,957 900 8,780 24,309
Total assets $ 66,214 $ 5,223 $ 33,679 $ 6,108 $ 28,195 $ 139,419
(1) Balances have been changed to conform with current year presentation.
11.E 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 and reinsurance recoverables are in accordance with accepted actuarial practice in Canada, applicable
legislation, and associated regulations or directives.
The Appointed Actuary is required to provide an opinion regarding the appropriateness of the policy liabilities net of reinsurance
recoverables at the statement dates to meet all policy obligations 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 net of reinsurance recoverables are
important elements of the work required to form this opinion.
142 Sun Life Financial Inc. Annual Report 2015 Notes to Consolidated Financial Statements