Glossary
Our glossary explains technical terms from the areas finance and reinsurance. We hope it facilitates the understanding of our texts, publications and annual reports. If you have comments or suggestions, please use our feedback form!
Value of in-force business (VIF)
Present value of expectedfuture profit flows from the portfolio of in-force retainedbusiness, discounted by a currency-specific risk discount rate. It is determined in accordance with local accounting principles.