379

Exhibit 7

RATIO OF EARNINGS TO FIXED CHARGES

Year ended December 31,	2015		2014		2013		2012		2011
Earnings:
Income before taxes		873		1,448		1,189		2,005		1,027
Add: Fixed charges included in earnings		1,643		1,542		1,746		2,151		2,148
(A) Total Earnings		2,517		2,990		2,934		4,156		3,175
Fixed charges:
Interest		412		371		355		519		491
Interest on fixed annuities, investment contracts and savings accounts		1,232		1,171		1,391		1,632		1,657
Sub-total fixed charges included in earnings		1,643		1,542		1,746		2,151		2,148
Dividend on preferred shares		-		-		24		59		59
Coupons on perpetual capital securities		148		171		194		230		237
Coupons on Non-Cumulative Subordinated Notes		38		32		28		30		-
(B) Total fixed charges		1,829		1,744		1,992		2,470		2,444
Ratio: (A) / (B)		1.4		1.7		1.5		1.7		1.3
Ratio excluding interest on fixed annuities, investment contracts and savings accounts		2.2		3.2		2.6		3.0		1.9