Home Capital Results

Great Eastern’s 3Q earnings rise to $195 mil on disposal gain

PC Lee
PC Lee10/26/2016 07:37 AM GMT+08  • 2 min read
Great Eastern’s 3Q earnings rise to $195 mil on disposal gain
SINGAPORE (Oct 26): Great Eastern Holdings’ 3Q16 earnings nearly tripled to $195 million from $68.4 million a year ago, boosted by a $119.9 million gain on disposal of its investment in New China Life Insurance Company.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Oct 26): Great Eastern Holdings’ 3Q16 earnings nearly tripled to $195 million from $68.4 million a year ago, boosted by a $119.9 million gain on disposal of its investment in New China Life Insurance Company.

Operating profit for 3Q16 rose 6% to $136.7 million compared to $129.5 million a year ago with contribution from both its Singapore and Malaysia business. Operating profit for 9M16 was 5% lower at $391.7 million as a result of lower contribution from its Singapore business in the first half of the year.

Total Weighted New Sales (TWNS) for 3Q16 remained at $266.9 million. For 9M16, TWNS increased 10% over the same period last year to reach $731.6 million as a result of strong performance by agency and bancassurance in both Singapore and Malaysia.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now