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Great Eastern's 1Q earnings more than double to $342.7 mil on favourable market conditions

Michelle Zhu
Michelle Zhu5/3/2019 07:36 AM GMT+08  • 2 min read
Great Eastern's 1Q earnings more than double to $342.7 mil on favourable market conditions
SINGAPORE (May 3):  Great Eastern Holdings, a member of the OCBC Group, saw its earnings for 1Q19 more than double y-o-y to $342.7 million from $152.9 million due to higher non-operating profit and profit from shareholders’ fund.
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SINGAPORE (May 3): Great Eastern Holdings, a member of the OCBC Group, saw its earnings for 1Q19 more than double y-o-y to $342.7 million from $152.9 million due to higher non-operating profit and profit from shareholders’ fund.

The higher profit was due to higher valuation of the investments as a result of favourable financial market conditions, says Great Eastern in its filing on Friday.

Operating profit from the group’s Insurance Business for the quarter was $150 million, 8% lower than the same quarter last year.

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