Embedded value growth trends in Asia in 2014 have continued into 2015, supported by healthy economic growth, expanding middle-class populations and underpenetrated insurance markets. At the moment, there are headwinds for some insurance markets, such as South Korea and Taiwan due to unfavourable interest rates environments and Indonesia due to slowing (but still positive) economic growth. The overall long-term trend for the region still remains positive, with insurers well placed to service the savings, protection and retirement-related needs for the growing middle class and the ageing, relatively wealthy populations in particular.