Olivieri, Annamaria; Pitacco, Ermanno - In: Life insurance in Europe : risk analysis and market …, (pp. 103-126). 2020
: possible losses are reduced but also possible profits. The trade-off is not obvious and requires appropriate assessment metrics … for defining the business value, namely, the present value of future profits net of the cost of capital, we suggest how to … identify the main components of the present value of future profits; further, we assess the capital size according to the …