Comprehensive Equity (CE)
An indicator defined by Lifenet. It is the sum of “Equity (attributable to owners of the Company)” on the IFRS balance sheets, “CSM”, a liability representing unearned profit that Lifenet expects to earn as it provides insurance services (insurance contracts and reinsurance contracts are aggregated and tax-adjusted), and "GCL contracts value". We have defined it as the indicator that represents the corporate value of the Group as it includes the value of future profits of policies-in-force.
Lifenet announced our new Management Policy and a five-year mid-term business plan and we have changed our management indicator from “European Embedded Value” to “Comprehensive Equity”. We believe that the change from EEV, an indicator unique to life insurance companies, to Comprehensive Equity, an indicator linked to IFRS financial statements, will make our corporate value indicators more reliable to shareholders and investors.
