MUMBAI, July 23 (Bernama-BUSINESS WIRE) — Milliman, a premier global consulting and actuarial firm, today released its annual 2023 embedded value results: Asia report which includes 2023 embedded value (EV) and value of new business (VNB) results disclosed by major multinational and domestic life insurers across Asia Pacific. The report also analyses and discusses the EV methodologies and assumptions used, and the impact of changes to key regulations in the region.
“An overall increase in EV and VNB across the region in 2023 reflects the bounce back of many economies,” said Milliman Principal and Consulting Actuary Heerak Basu. “With the easing of Covid restrictions and the return of Mainland Chinese visitors, Hong Kong’s VNB more than doubled, while India, Japan and Taiwan showed double-digit EV growth in 2023.”