Topic
Embedded value
About: Embedded value is a research topic. Over the lifetime, 343 publications have been published within this topic receiving 8853 citations.
Papers published on a yearly basis
Papers
Patent•
5 Sep 2003
TL;DR: In this paper, the stable value fund calculates and reports book value of the investments to the separate accounts, which report the book value to the policy holders, and the separate account investors share in the potential risk and reward from early withdrawals by other fund investors.
Abstract: Separate accounts of life insurance carriers receive premiums for company owned life insurance (COLI). The premiums are invested in a stable value fund along with net premiums from other separate accounts. The stable value fund enters into a derivative contract with a stable value provider. The stable value fund calculates and reports book value of the investments to the separate accounts, which report the book value to the policy holders. The separate account investors share in the potential risk and reward from early withdrawals by other fund investors.
7 citations
TL;DR: In this article, a simple put option pricing procedure within an asset-liability valuation model is presented to estimate the incentives facing stock-based life insurance firms to voluntarily sell their businesses under various operating and regulatory conditions.
Abstract: We present a simple put option pricing procedure within an asset–liability valuation model that can be used to estimate the incentives facing stock-based life insurance firms to voluntarily sell their businesses under various operating and regulatory conditions. Estimates are derived for samples of 11 sold firms and 24 continuing Australian life insurance companies over a period of industry consolidation. The put option values interact with other actuarial and accounting components of the fair value of these life insurance firms and are used to assess the effectiveness of accounting and actuarial measures of capital, under static or dynamic based solvency testing models.
7 citations
TL;DR: In this article, the authors examined the value relevance of the voluntary embedded value (EV) disclosures by publicly listed British life insurers pre and post the mandatory adoption of International Financial Reporting Standards (IFRS) in 2005.
Abstract: This study examines the value relevance of the voluntary embedded value (EV) disclosures by publicly listed British life insurers pre and post the mandatory adoption of International Financial Reporting Standards (IFRS) in 2005. It provides evidence for the first time that the voluntary European embedded value (EEV) and market consistent embedded value (MCEV) disclosures are value relevant and have incremental information content over and above the statutory accounting information. It also shows that the changes in the methods by which EV numbers are calculated do not have any impact on the value relevance of EV disclosures.
7 citations
TL;DR: In this article, the authors examined the informational content and relevance to external stakeholders of voluntary embedded value disclosures by publicly listed European life insurers and bancassurances post the voluntary adoption of the European embedded value principles (EEVPs) in 2005.
Abstract: This study examines the informational content and relevance to external stakeholders of voluntary embedded value (EV) disclosures by publicly listed European life insurers and bancassurances post the voluntary adoption of the European embedded value principles (EEVPs) in 2005. It is found that despite the increase in the number of European life insurers and bancassurances that have adopted EEVPs since 2005, diversifications in practice for EV calculation and disclosure between companies and countries have not been eliminated. It also reveals that EV earnings have no incremental information content beyond the statutory accounting information, although some EV disclosures, namely the present value in-force (PVIF), have information content over and above statutory earnings and book value of equity.
6 citations
Book•
31 May 1971
6 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2021 | 3 |
| 2020 | 2 |
| 2019 | 2 |
| 2018 | 3 |
| 2017 | 14 |
| 2016 | 20 |