El-Gazzar, Samir M.; Jacob, Rudolph A.; McGregor, Scott - In: International Journal of Economics and Accounting 4 (2013) 1, pp. 26-53
Many life insurance companies outside the US disclose embedded value (EV), an actuarial estimate of the present value of the future net cash flows arising from the company's in-force life insurance business. Industry surveys have shown that EV is used by analysts for valuation purposes. However,...