During the quarter, total weighted new sales fell by 34% y-o-y to $345.1 million mainly due to lower single premium sales in Singapore following the shift towards regular premium sales, although new business embedded value rose by 19% y-o-y to $148.8 million, thanks to an improved sales mix. Serving affluent customers in Singapore with more tailored solutions also contributed to the group’s performance, says group CEO Greg Hingston.
Great Eastern Holdings has reported earnings of $345.5 million for the 1QFY2025 ended March 31, 13% higher y-o-y.
Profit from the group's insurance business rose by 4% y-o-y to $246.8 million due to steady growth. Meanwhile, profit from Great Eastern's shareholders' fund surged by 40% y-o-y to $98.7 million due to a favourable investment performance.
