Investor Relations

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.

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.

Life and Health Embedded Value  Supplementary Information released on
2021 452 KB 14 April 2022
2020 464 KB 15 April 2021
2019 852 KB 30 April 2020
2018 812 KB 17 April 2019
2017 792 KB 18 April 2018
Group Embedded Value VIGNews ReleasePresentationSupplementary Informationreleased on
2016151 KB1.3 MB548 KB20 April 2017
20150.9 MB424KB237KB07 April 2015
2014306KB189KB242KB14 April 2015
2013108KB184KB1.1MB10 April 2014
201244KB179KB878KB03 April 2013
201150KB206KB1.1MB29 March 2012


148KB31 March 2011
200955KB97KB646KB31 March 2010


78KB54KB1.1MB31 March 2009
200741KB194KB116KB27 March 2008
200633KB113KB901KB25 April 2007