Value of new business
The value of new business shows the impact of new policies acquired during the period on the embedded value. It is calculated using the same conditions as those for the embedded value. It is included in the present value of the future profits of the embedded value.
New business used for value calculation is defined as that arising from the acquisition of new business during the period and excludes future new business.
New business CSM under IFRS is the present value of the future profits of the new business and its concept is substantially similar to the value of new business in EV.
