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Great Eastern posts 29% drop in 2Q earnings to $169 mil

PC Lee
PC Lee8/1/2019 07:56 AM GMT+08  • 2 min read
Great Eastern posts 29% drop in 2Q earnings to $169 mil
SINGAPORE (Aug 1): Great Eastern Holdings, the life insurance group, posted a 29% decrease in 2Q19 earnings ended June to $169 million from $237.6 million a year ago.
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SINGAPORE (Aug 1): Great Eastern Holdings, the life insurance group, posted a 29% decrease in 2Q19 earnings ended June to $169 million from $237.6 million a year ago.

Operating profit from insurance business rose 3% to $161.7 million while there was a non-operating loss from insurance business of $26 million in contrast to a profit of $15.3 million a year ago.

Gross premiums decreased 12% to $2.9 billion in 2Q19 due to lower single premium sales in Singapore.

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