Three comments on Schmautz/Lampenius, Net value created: measuring a non-life insurer's performance, ZVersWiss (2013), 237-255 Simon Krotter/Andreas Schueler The paper of Schmautz/Lampenius consists of two parts. First, the authors describe the performance measure Net Value Created (NVC). The concept is then applied to an insurance company. We have two comments on the first part and one on the ... [Show full abstract] second part. Comment 1: NVC is not new and the formulae used by Schmautz/Lampenius, also the adaptation to FTE, are not new If a scientific paper is written for instance about the application of a concept like a performance measure, the authors are required to clarify the origin of that concept and the underlying framework. There are two possibilities: the authors have developed that measure or the measure has been developed before. The second explanation holds true here. Based upon contributions of others we: coined the term Net Value Created (NVC) and developed the concept behind that performance measure, formulated NVC both with cash flows and residual incomes for all DCF approaches (APV, WACC, TCF and FTE), showed the interactions between the DCF approaches in the NVC concept, uncovered related pitfalls and provided respective solutions, and developed the formulae and the approach in terms of interpreting and splitting it into different components, i.e. the realized deviation from expectations and the revision of expectations. In all the articles and working papers on the subject we listed all the previous articles important for that field of research, i. e. O'Hanlon/Peasnell (2002) and many others. In literature it is widely accepted that some terms like CAPM and DCF are common knowledge which might not make it necessary to quote the original sources each and every time. However, after working years on the subject we are well aware that our concept of NVC has not become common knowledge (yet). Table 1 lists the formulae used in Schmautz/Lampenius (2013) and their origin in our research without claiming to cover all possible sources. Again, references to related work by others are listed in our papers.