Great Eastern see earnings rise 13% YoY in Q1 2025

But total weighted new sales contracted by 34% YoY.

Great Eastern Holdings saw its first quarter (Q1 2025) profit attributable to shareholders expand 13% year-on-year (YoY) to $266.78m (S$345.5m).

This was driven by steady growth in the insurance business and positive investment performance contributing to gains in the shareholders’ fund, a press release said.

However, the group reported a 34% YoY decline in Total Weighted New Sales (TWNS) for Q1 2025, mainly due to reduced single premium sales as the business shifted toward regular premium offerings. 

Despite the drop in TWNS, New Business Embedded Value (NBEV) rose by 19% YoY, supported by a more favourable product sales mix.

Group CEO Greg Hingston said Singapore’s growth was led by increased sales of protection, legacy, and regular premium investment-linked plans, whilst Malaysia saw stable performance from legacy and wealth accumulation products. 

Affluent customer segments in Singapore also contributed through demand for tailored solutions, including the Group’s US dollar-denominated Single Premium Indexed Universal Life Plan and Single Premium Endowment Plan with index-linked returns.

Looking ahead, Hingston acknowledged a more challenging business environment due to rising global volatility, new trade measures, and geopolitical tensions. 

The group said it remains focused on strengthening its distribution model and delivering targeted, data-driven propositions to meet evolving customer needs.

($1.00 = S$1.30)