OCBC shouldn’t absorb Great Eastern entirely

AS A shareholder of OCBC, I am firmly of the view that it is not such a great idea for OCBC to absorb Great Eastern entirely. To do so would enhance the risk for OCBC as a bank and at the same time, inhibit the growth of Great Eastern as an insurer.

Basically, banking and insurance are two distinctively different types of business, each subject to entirely different underwriting considerations and approaches to risk management.

Given the increasingly higher risk in life insurance these days, with an aging population and the adverse impact of extreme weather conditions resulting from climate change on non-life business, Great Eastern must remain a strong and independent entity with a strong board of its own, equipped with adequate insurance expertise to ensure competent governance at the operating level.