Great Eastern Q1 profit hits S$437.6m on favourable market conditions

Singapore

GREAT Eastern posted a net profit of S$437.6 million for its first quarter ended March 31, 2021, 12.9 times the S$33.9 million it reported for the same quarter last year.

This was mainly due to the higher valuation of its investments amid more favourable financial market conditions, the insurance arm of OCBC said in a bourse filing on Monday.