FY23 VNB +33% in line; strong MCV momentum sustained to 1-2M24

CMB International Global Markets | Equity Research | Company Update PLEASE READ THE ANALYST CERTIFICATION AND IMPORTANT DISCLOSURES ON LAST PAGE MORE REPORTS FROM BLOOMBERG: RESP CMBR OR http://www.cmbi.com.hk1 Error! Reference source not found. Rerating rationale Total value = Embedded Value + Value of New Business * New Business Multiplier Long-term RoEV from 14% to 11%: Aside from the operating RoEV, we also include other metrics, i.e. investment experience variances, effect of changes in economic assum ...