NobleOak Life increases embedded value to $217.7M

• NobleOak grew its embedded value by 9% year-on-year to $217.7 million.
• The company's share price remained unchanged at $1.265 following the business update.
• In-force premium growth of 16% drove the company to meet its full-year guidance.

NobleOak Life (ASX:NOL) increased its embedded value by 9% year-on-year to $217.7 million as at December 2025.

The growth compares to an estimated 13% increase if a one-off Victorian stamp duty provision were excluded.

“We are pleased to continue our strong and profitable growth trajectory, delivering 9% growth in embedded value over the last 12 months and 16% in-force premium growth at May 31, achieving our FY26 in-force premium guidance,” said NobleOak CEO Anthony Brown.

The company reported that its in-force premiums rose 16% year-on-year to $538 million as at May 31.

Following the announcement, the NobleOak share price was unchanged at $1.265.

The company stated it will release more detailed financial performance data during its full-year results on Aug. 28.