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

INSURANCE provider Great Eastern : G07 0%’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.