GEH Q3 profit jumps on higher insurance, investment returns
Despite 8% dip in gross premiums, net profit surges 185% to S$195 million
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Singapore
HIGHER profit from its insurance business and shareholders' funds investments lifted Great Eastern Holdings' (GEH) third-quarter net profit 185 per cent to S$195 million from S$68.4 million a year ago, despite a dip in gross premiums.
Profit from the group's insurance business for the three months till end-September more than doubled to S$171.1 million from S$68.2 million in Q3 2015, mainly due to higher contribution from an investment-linked fund in its Malaysia business and a surge in profit from a non-participating fund.
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