present value of new business premiums (PVNBP)

PVNBP is a measure of life and pension sales using the European embedded value method of financial reporting. It represents the total single premium sales received in a year plus the discounted value of premiums expected to be received over the term of the new regular premium contracts, expressed at the point of sale. For the time being, Aviva will report life and pensions new business using both annual premium equivalent and PVNBP.

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