Glossary
V
value at risk
Potential Losses that with a certain probability will not be exceeded in a given period.
value of in-force business
Present value of expected future profit flows from the portfolio of in-force retained business, discounted by a currency-specific risk discount rate. It is determined in accordance with local accounting principles.
volatility
Degree of fluctuation in the variability of security prices, interest rates and foreign currencies. It is standard practice to measure the volatility of a security price by calculating the standard deviations of relative price differences.
