Great Eastern witnesses 26% YoY profit surge in Q1’24

Its new business-embedded value leapt 21% YoY.

In the first quarter of 2024, Great Eastern recorded a 34% year-on-year (YoY) surge in its total weighted new sales (TWNS) to reach $524.2m, driven by sustained growth across core distribution channels in Singapore, Malaysia, and Indonesia.

New business embedded value (NBEV) increased by 21% YoY to $163.2m for the quarter, reflecting the strong sales momentum.

ALSO READ: Callable notes to enhance Great Eastern Life’s financial resilience

Profit attributable to shareholders saw a notable 26% YoY rise to $306.7m compared to the same period last year. This growth was primarily attributed to higher profits from insurance operations and favourable investment performance in the shareholders' fund.

Additionally, the group's insurance subsidiaries maintained strong Capital Adequacy Ratios, well above regulatory requirements.

Follow the links for more news on

Great Eastern

Financial Statements

insurance

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit