NobleOak Life (ASX:NOL) said it increased its embedded value by 9% year over year to AU$2.34 per share, or AU$217.7 million, as of the end of 2025, according to a Monday filing with the Australian bourse.

Excluding a previously disclosed one-off Victorian stamp duty provision, annual embedded value growth would have been about 13%, reflecting profitable growth of in-force premiums and continued market share gains, the company said.

It also reported AU$538 million of in-force premiums as of May 31, up 16% from a year earlier, marking the achievement of its fiscal 2026 guidance for growth of more than 15%, per the filing.

The company's shares gained nearly 3% in recent Monday trade.