An account compiled at the finish of the monetary yr exhibiting that 12 months’s income and expense items, and indicating gross and net profit or loss. Is a measure of life and pension sales utilizing the European embedded value method of monetary reporting. It is calculated as the present worth of latest common premiums plus one hundred pc of single premiums, using assumptions in keeping with those used to determine new business contribution. Similar in principle to the UK industry normal of annual premium equal. Refers to a pool of pensions contributions invested for development. Also used to check with a sort of institutional investor who administers and invests funds for pension plans.
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