Great Eastern’s first half net profit grows 21%

Strong first half results mostly unaffected by second-quarter dip

Great Eastern’s first half net profit grows 21%

Insurance News

By Gabriel Olano

Great Eastern Insurance has revealed its results for the first half of 2018, with a 21% year-on-year increase in net profit to SG$390.5 million.

Meanwhile, the operating value from its insurance business increased by 12% to US$312.3 million in
January to June 2018, the insurer said in a statement.

The first half results are encouraging, despite a slight second quarter dip, which saw a 3% fall in operating value from insurance business to SG$153 million.

According to Great Eastern, its capital adequacy ratios for both its Singaporean and Malaysian operations remain strong and exceed regulatory thresholds.

“Our priority remains delivering the right solutions to meet the needs of our customers, leveraging on our comprehensive suite of products and strong distribution capabilities, while continuing to push forward our digitalisation transformation to better serve our customers and distribution channels,” said Khor Hock Seng, Great Eastern group CEO .

Earlier this year, Great Eastern launched its wellness and lifestyle rewards platforms GetGreat and UpGreat. The platforms have gathered over 1.5 million interactions, according to the company.



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