Glossary

V

VAG: The Austrian Insurance Supervision Act (Versicherungsaufsichtsgesetz) includes provisions governing the organization and supervision of insurance companies.
Value of new business: The value of new business is the value generated by the new business sold during the financial year.
Value-at-risk: Value-at-risk is a procedure used to calculate potential losses arising from price changes affecting the trading position. This loss potential is expressed using a specific confidence limit (e.g. 98%), and is calculated based on market-related price changes.
VaR: Value-at-risk is a procedure used to calculate potential losses arising from price changes affecting the trading position. This loss potential is expressed using a specific confidence limit (e.g. 98%), and is calculated based on market-related price changes. See also "Value-at-risk".
Vienna Insurance Group: When Vienna Insurance Group (VIG) is mentioned, generally the Group as a whole is meant. If a statement refers only to the activities of the Group holding company, the word “Holding” is added at the end of the name.
VIG: When Vienna Insurance Group (VIG) is mentioned, generally the Group as a whole is meant. If a statement refers only to the activities of the Group holding company, the word “Holding” is added at the end of the name.
Volatility: Fluctuations in security prices, currency rates, and interest rates.