Glossary

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Operating return on equity: Operating RoE measures the profitability of the Group by expressing the business operating result as a ratio of the capital employed. This ratio is calculated by dividing the business operating result by the average shareholders’ equity. Shareholders’ equity adjusted for a provision for unrealised gains and losses is used for this purpose.
Operating RoE: Operating RoE measures the profitability of the Group by expressing the business operating result as a ratio of the capital employed. This ratio is calculated by dividing the business operating result by the average shareholders’ equity. Shareholders’ equity adjusted for a provision for unrealised gains and losses is used for this purpose.
Organic growth: Organic growth means the growth of a company resulting from the company’s own financial strength. Such growth is therefore not the result of purchasing other companies.
ORSA: Under Article 45 of Directive 2009/138/EC, every insurance company must perform the Own Risk and Solvency Assessment (ORSA) as part of its risk management system.
Own Risk and Solvency Assessment: Under Article 45 of Directive 2009/138/EC, every insurance company must perform the Own Risk and Solvency Assessment (ORSA) as part of its risk management system.