Great Eastern's Q4 profit more than doubles to S$287m

Singapore

A REBOUND in investments due to favourable financial market conditions gave a fillip to Great Eastern's fourth-quarter bottom line.

The insurance arm of OCBC Bank on Wednesday posted a net profit of S$287 million for the three months ended Dec 31, 2019, more than double the S$136.9 million it earned in the previously corresponding quarter. Total weighted new sales gained 19 per cent to S$395 million, driven by its businesses in Singapore and Malaysia.