2014 Mid-Year Embedded Value Results Generating Value

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By Richard See Toh, Kenjiro Ito, Philip Simpson, Stephen H. Conwill, Stuart Reynolds, Takahiro Kinoshita, Takanori Hoshino | 18 November 2014
While disclosed embedded value (EV) results have been broadly positive, gains in the first six months of 2014 have been lower than in the first six months in 2013. Reasons for the cautious nature of the market are varied but reflect a number of factors, including general uncertainty about future monetary policy, the effectiveness of government efforts to manage vulnerable economic growth, and general confidence in the economy. Against this backdrop, in aggregate, the firms included in this update report have disclosed a broadly static value of new business, compared with the similar period last year, which has contributed to a drag on EV growth. This update is based on company reports to date for 2014.