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Great Eastern H2 profit falls 37% to S$281.3 million

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Tan Nai Lun
Yong Hui Ting

Tan Nai Lun &

Yong Hui Ting

Published Wed, Feb 22, 2023 · 08:19 AM
    • Gross premiums for H2 have fallen 21 per cent to S$7.7 billion from S$9.8 billion, due to lower sales in single premium products.
    • Gross premiums for H2 have fallen 21 per cent to S$7.7 billion from S$9.8 billion, due to lower sales in single premium products. PHOTO: BT FILE

    INSURANCE provider Great Eastern ’s profit for the second half of the year ended Dec 31, 2022 declined 37 per cent to S$281.3 million, from S$443.1 million for H2 2021.

    In a bourse filing on Wednesday (Feb 22), the group attributed this to the “negative impact of financial market movements” which adversely impacted the valuation of insurance contract liabilities.

    The group’s earnings per share for the second half of the year stood at S$0.60, down from S$0.93 in the year-ago period.

    Great EasternFinancial resultsSpotlight

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