Glossary

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.