Implementation and Uses of Economic Capital ... - ERM Symposium
Implementation and Uses of Economic Capital ... - ERM Symposium
Implementation and Uses of Economic Capital ... - ERM Symposium
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European Insurers Report Increasing Pr<strong>of</strong>it Margins Since EEV<br />
CFO Forum<br />
Launched EEV<br />
Principles in May<br />
2004, with<br />
implementation<br />
set for year end<br />
2005 at the latest<br />
European Insurers’ New Business Pr<strong>of</strong>it Margins 1<br />
15<br />
10<br />
5<br />
0<br />
8<br />
(NBP as % <strong>of</strong> New APE)<br />
12 12<br />
13<br />
2003 2004 2005 2006<br />
1. Includes: Aegon, Allianz, Aviva, Axa, ING, Old Mutual, Prudential (UK), ZFS<br />
Source: Citigroup, European Embedded Value Review, June 28, 2007<br />
10 10
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