Many actuarial tasks concern the process of valuation. Giving a value to a complete insurance portfolio, to a particular asset of an insurer balance sheet or to very long term life insurance commitments are all examples of valuation processes. Standard accounting rules or measures are used to give an economic comparable value to these different items: the Market Consistent Embedded Value and the IAS 19 standards are two samples of those valuation techniques.
In the Solvency II framework, the economic valuation of both balance sheet legs implies the use of techniques as replicating portfolios or the generation of economic scenarios.
