Embedded Value

The Life and Health Embedded Value is an estimate of the economic value of insurance business including for covered business future profits on existing business, but excluding any profits on future new business. It corresponds to the total net of tax statutory profits distributable to the shareholders after allowance for the risks included in the covered business.

For the financial year 2017, VIG reports the consolidated Embedded Value of its life and health businesses (Life and Health Embedded Value).

Until 2016 the Group Embedded Value included the Market Consistent Embedded Value (MCEV) for the majority of the Life and Health (L&H) businesses and the Adjusted Net Asset Value (ANAV) for the majority of Property & Casualty (P&C) businesses.