• Captive Value Added (CVA) is the financial benefit to an organization as a result of participating in a captive program as a shareholder and/or insured. One template approach to calculating CVA uses a net present value (NPV) comparison of the cost of the program to show the captive’s contribution to the organization’s ability to retain, that is, the effect of capacity building, as well as the lower after-tax costs compared to self-insurance or commercial insurance. The value added approach can also be used to recognize both subjective and objective benefits.