Transcription of Embedded Value (EV) Reporting
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Embedded Value (EV) Reporting
1850 M Street NW, Suite 300 Washington, 20036202-223-8196 FAX Value (EV) ReportingA Public Policy PRAcTicE NoTEMay 2009 American Academy of ActuariesLife Financial Reporting Committee Practice Note on Embedded Value (EV) Reporting This practice note was prepared by a work group organized by the Life Financial Reporting Committee within the Life Practice Council of the American Academy of Actuaries. The practices presented here represent observations of actuaries working in the life insurance industry. This practice note is not a promulgation of the Actuarial Standards Board, is not an actuarial standard of practice, is not binding upon any actuary and is not a definitive statement as to what constitutes generally accepted practice in the area under discussion.
Insurers (ABI) developed guidelines for the calculation of EV for long term insurance business. These guidelines, which were published in December 2001, cover all of the basic EV concepts such as the setting of assumptions, the determination of discount rates, and the treatment of encumbered capital.
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