Great Eastern H2 profit falls 13% to S$337.4 million

INSURANCE provider Great Eastern posted a net profit of S$337.4 million for the second half of the year ended Dec 31, 2023, down 13 per cent from S$385.9 million a year earlier.

Earnings per share for H2 2023 slipped 13 per cent to S$0.71.

The whole of 2023 had been “quite challenging” as the inverted yield curve impacted new sales, said Ronnie Tan, group chief financial officer at Great Eastern, at a media briefing on Monday (Feb 26).