Great Eastern Holdings reported higher new business volumes and new business embedded value for the first quarter of 2026 (Q1 2026), with profit attributable to shareholders broadly unchanged from a year earlier for the three months ended March 31, 2026.
For the first quarter of 2026, the group’s total weighted new sales (TWNS) rose 16% year on year. The company said the increase was mainly driven by its Singapore operations, where new sales continued to follow the trajectory seen in recent quarters. TWNS in Malaysia was largely flat as demand for insurance products remained subdued amid weaker market sentiment. New business embedded value (NBEV) increased 31% year on year in the quarter. According to Great Eastern, the improvement was primarily due to higher new business volumes in Singapore and a shift in the product mix towards lines that contribute more to NBEV.
Group chief executive officer Greg Hingston said the start to the year showed the group’s ability to generate new business in a period of market volatility. “Great Eastern started the year with a strong new business performance, reflecting the strength of our underlying business despite a challenging and volatile investment environment. Our fundamentals remain robust, and the resilience of our business continues to be underpinned by disciplined execution of our long-term strategy. This positions us well to navigate ongoing market uncertainty, while maintaining the flexibility to continue investing in our strategic priorities and deliver sustainable growth as we move through the rest of the year,” Hingston said.
The Q1 2026 figures come after the group announced on Feb. 24, 2026, that profit attributable to shareholders for the full year ended Dec. 31, 2025, was S$1,207.1 million, up 21% from 2024. For full-year 2025, TWNS declined 15% year on year. Great Eastern said the reduction was in line with its strategy to reduce its exposure to short-term single-premium products and move toward a broader range of longer-duration offerings. In contrast, TWNS in the fourth quarter of 2025 rose 5% compared with the same period in 2024. NBEV grew 19% for full-year 2025 and 25% for the fourth quarter. Singapore was the main contributor, with NBEV in that market up 45% year on year, supported by new product launches and distribution growth in the financial adviser and bancassurance channels.
Commenting on the full-year results, Hingston said: “We have delivered a strong set of results for FY-25, underpinned by disciplined capital management, focus on operational efficiency, and consistent execution of our strategy across markets. Our performance reflects both favourable investment returns and the strength of our underlying business fundamentals. As we continue to focus on customer needs and develop relevant and differentiated solutions across life stages, we remain well-positioned for sustainable growth in the years ahead.”
In Singapore, Great Eastern has been adjusting its product and channel mix, describing this as a move to a more diversified and longer-term business profile. In 2025, the group launched 18 new products and expanded its Great Medical Care Concierge service, which offers 24/7 support and guidance for policyholders during medical episodes. In Malaysia, the group said it maintained its operations in 2025 amid rising medical costs and new market requirements introduced from the beginning of that year. In July 2025, it launched “The Great Journey,” an initiative that connects 85 hospitals and more than 1,000 clinics across its conventional and family takaful businesses to provide coordinated medical care. The establishment of Great Eastern Labuan added another operating platform in the Malaysian market.
Across its Asian markets, Great Eastern has been introducing digital and artificial intelligence tools in distribution, underwriting, and claims. In 2025, it deployed an AI-enabled advisory platform that it estimates can reduce preparation time for financial advisers by about 75%. The group also rolled out an AI-powered medical claims automation platform and is piloting an AI-based solution to support complex underwriting cases. In Singapore, the insurer was identified in Ministry of Health service indicators as having relatively short claims processing turnaround times for health insurance and became the first insurer to attain the Cyber Trust Mark.
On capital returns, the board has recommended a final one-tier tax-exempt dividend of 30 Singapore cents per share for the financial year ended Dec. 31, 2025, subject to shareholder approval at the annual general meeting. If approved, the dividend will be paid on May 6, 2026. Together with an interim dividend of 25 cents per share paid in September 2025, the total dividend for FY 2025 would be 55 cents per share. Following a one-for-one bonus issue completed on Aug. 19, 2025, Great Eastern’s issued share capital doubled. The group said the FY 2025 dividend per share has been adjusted to reflect the larger share base and stated that, barring unforeseen circumstances, it aims to keep each dividend payment at least at the level of the preceding one.
