Valuation of Variable Annuity (VoVA™) is a seriatim valuation system of Japanese statutory reserve and capital requirements for minimum guarantees in the variable annuity business. While VoVA supports almost all types of existing minimum guarantee for valuation, either by the formula method or scenario testing, it can be customised to meet any client need for unique product designs and/or valuation method. VOVA has demonstrated a very high quality and high-speed performance at a low cost.