research report
2022 mid-year embedded value results: Asia
By Heerak Basu, Michael Daly, Richard W. Holloway, Wing F. Wong, Chihong An, Wen Yee Lee, Stephen H. Conwill, Philip Jackson, Clement Bonnet, and Shamit Gupta
11 January 2023
This report provides a summary of the mid-year 2022 embedded value (EV) results disclosed by roughly three dozen insurers in 12 countries. The summary serves as a supplement to “2021 Embedded Value Results: Asia,” which was released in September 2022. The main sections of this update include:
- Embedded value results
- Value of new business results
- New business margin results
- Risk discount rate and investment return assumptions
- Appendices presenting disclosed EV by company, market, adjusted net worth and value in force