v3.26.1
Assets And Policyholder Liabilities Under Insurance And Investment Contracts
 12 Months Ended
Jun. 30, 2026
Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]  
Assets And Policyholder Liabilities Under Insurance And Investment Contracts
11.
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 years
ended June 30, 2026 and 2025:
Reinsurance
Assets
(1)
Insurance
contracts
(2)
Balance as of July 1, 2024
$
1,469
$
(2,241)
Increase in policyholder benefits under insurance contracts
461
(10,127)
Claims and policyholders’ benefits under insurance contracts
(131)
9,781
Foreign currency adjustment
(3)
38
(57)
Balance as of June 30, 2025
1,837
(2,644)
Increase in policyholder benefits under insurance contracts
799
(13,437)
Claims and policyholders’ benefits under insurance contracts
(412)
12,690
Foreign currency adjustment
(3)
192
(297)
Balance as of June 30, 2026
$
2,416
$
(3,688)
(1) Included in other long-term assets (refer to Note 9);
(2) Included in other long-term liabilities;
(3) Represents the effects of the fluctuations of 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 value of insurance contract liabilities is based on
the best estimate
assumptions of
future experience
plus a risk
adjustment for
non-financial risk,
as required
in the markets
in which
these products are offered, namely South Africa. The process of deriving the best estimates assumptions plus risk adjustments include
assumptions related to claim reporting delays (based on
average industry experience) and their associated costs
as well as assumptions
related to the present value of disability claims in payment.
Assets and policyholder liabilities under investment contracts
Summarized below is the movement in assets
and policyholder liabilities under investment contracts during the years
ended June
30, 2026 and 2025:
Assets
(1)
Investment
contracts
(2)
Balance as of July 1, 2024
$
216
$
(216)
Increase in policyholder benefits under investment contracts
5
(5)
Claims and decrease in policyholders’ benefits under investment contracts
(101)
101
Foreign currency adjustment
(3)
13
(5)
Balance as of June 30, 2025
133
(125)
Increase in policyholder benefits under investment contracts
6
(6)
Foreign currency adjustment
(3)
2
(10)
Balance as of June 30, 2026
$
141
$
(141)
(1) Included in other long-term assets (refer to Note 9);
(2) Included in other long-term liabilities;
(3) Represents the effects of the fluctuations of the ZAR against the U.S. dollar.
T
he Company does not offer any investment products with guarantees
related to capital or returns.