Axa innovates with EEV figures
News
France-based insurer Axa has restated its 2004 accounts under the European embedded value (EEV) principles - the first time a life company has published its figures on a market-consistent basis, within the framework established by the CFO forum.
This approach has seen the company's EEV figure drop for its life and savings business by 5% to EUR25.6 billion in comparison to the traditional approach, but Axa was certain that the use of a bottom-up, market-consistent approach provided a better
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