Great Eastern Holdings' Attributable Profit Jumps 52% in Q3

MT Newswires

2024/11/06

Great Eastern Holdings' (SGX:G07) profit attributable to shareholders was up 52% year over year to SG$273.4 million in the third quarter from SG$180.2 million, according to a filing with the Singapore Exchange on Wednesday.

Total weighted new sales declined 7% year over year to SG$390.8 million from SG$419.4 million, the filing said.

New business embedded value was up 7% year over year in the three months to September to SG$176.9 million from SG$165.1 million.

In the January-September period, total weighted new sales rose 19% year over year to SG$1.36 billion from SG$1.15 billion. The growth was attributed to strong performance from the company's insurance business.

Nine-month attributable profit jumped 39% on-year to SG$860.5 million.

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