9 March 2011 - Norwegian insurer Storebrand ASA (OSL: STB) said today that its life insurance unit Storebrand Liv had an embedded value
of NOK30.6bn at year-end 2010, up from NOK28.5bn a year earlier.
The embedded value
expanded 18 per cent to $24.7 billion from a year earlier, according to yesterday's statement.
Prudential's initial $35.5 billion bid for AIA was pitched at 1.67 price to embedded value
. Embedded value
is a measure commonly used to gauge the value of insurance companies that includes the present value of future profits from long-term insurance contracts.
The structure of a reinsurance transaction for risk-based capital relief depends on a number of factors, including the redundancy contained in the risk-based capital factors relative to the underlying economic risk, characteristics of the embedded value
of a block of business, captive jurisdiction and financial strength of the company and the parent.
First half operating profits rose 7% to pounds i.4.bn, on a European embedded value
basis, thanks in part to higher than forecast sales in the UK and US.
Friends shares, which have dropped 26pc this year, tracked the financials sector higher yesterday, closing up 3.8pc at 120.6p, well below the offer price and at a sharp discount to the insurer's own assessment of its embedded value
With chapters on Jewish, Christian, Buddhist, Muslim, and Confucian perspectives falling between others on such topics as international law and liberalism, the volume is structured to aid the exploration of global ethics in the form of what Will Kymlicka, in his introduction, refers to as a "two-level" phenomenon, comprising a self-standing discourse on human rights and international law, as well as the culturally embedded value
systems associated with major religious and secular traditions.
We conclude that approaches that try to "move" faculty and deeply embedded value
systems directly toward new forms of archival, "final" publication are destined largely to failure in the short-term.
Resolution said the deal, for the UK and offshore life businesses of Spanish-owned Abbey together with associated new business infrastructure and service companies, had an embedded value
of about pounds 3.77 billion.
The venture also has the ability to redevelop the retail component of the South Building in participation with CSFB, which currently leases most of the retail space, thereby unlocking embedded value
not currently utilized in the South Building.
The company conceded, though, that the stock market slump was having a material impact on the embedded value
of its life and pensions portfolio.
Max Life also reported Market-Consistent Embedded Value
(MCEV) of Rs 8,938 Cr, with an Operating Return on EV (RoEV) of 22 per cent.