International Financial Reporting Standard (IFRS) 17 embraces a marketing value accounting concept under which insurance contract liabilities are constantly updated to reflect environments at the reporting date. It also has a deferral accounting aspect. These features are anticipated to replace the roles that embedded value (EV) disclosure has been taking. However, as the insurance contract valuation by IFRS 17 is very complex, simpler market value accounting approaches like EV disclosure will be still more useful in some situations. This paper by Milliman consultant Takanori Hoshino compares the valuation approaches between IFRS 17 and EV and infers a potential future of EV disclosure.