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Great Eastern more than doubles Q2 profit

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Great Eastern Holdings on Tuesday posted S$279.5 million in net profit for the second quarter ended June 30, more than double last year's S$102.2 million.

GREAT Eastern Holdings on Tuesday posted S$279.5 million in net profit for the second quarter ended June 30, more than double last year's S$102.2 million.

The insurance group said: "This was largely due to the higher non-operating profit brought about mainly by favourable financial market conditions."

Total weighted new sales rose 6 per cent to S$255.7 million from S$242.1 million a year ago, mainly due to strong contribution from the group's agency channels in core markets and the bancassurance channel in Singapore.

Earnings per share came up to S$0.59, from S$0.22 the previous year.

An interim one-tier tax exempt dividend of 10 Singapore cents per ordinary share was declared for the financial year ending Dec 31, 2017. It will be paid on Aug 31.

sentifi.com

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