Great Eastern Holdings (GEH) launched its Prestige Legacy UL product in 2024. “The key question is, what is the investment strategy that is needed to support the product? We are not the first in the market. Other players launched it first in Asia,” says Ronnie Tan, group CFO of GEH.
Universal Life (UL) products have long been part of Singapore’s insurance landscape. Over the past 12 to 18 months, their appeal has surged, largely because they are typically priced in US dollars, although GEH also offers an SGD version.
Since early 2025, US and local interest rates have gone in different directions. The yields on 10-year US Treasuries are above 4% while those on 10-year Singapore Government Bonds are at around 2.19%. Yields on the 30-year US Treasuries are at 4.8% while yields on 30-year Singapore bonds are 2.27%.
