The first half of 2013 has been relatively buoyant, indicative of growing consumer confidence in the European market. Economic performance has improved with equity markets rallying and credit spreads narrowing. Companies have, however, continued to find frustrating the lack of focused direction for Solvency II and the additional burden of understanding IFRS Phase II. Embedded value reporting has provided companies with a familiar metric with which to showcase to the market their performance and continues to be a key supplementary reporting metric. 

This mid-year publication provides an update on the embedded value reporting for European insurance companies that have published embedded value results as at the end of June 2013. It also includes a comprehensive section on embedded value reporting in Japan, which covers the performance of key Japanese companies reporting embedded value and the hot topic issues facing the Japanese market.