The surge in earnings also follows growth in total weighted new sales, which climbed 28% y-o-y to $383.6 million for the period on the back of double-digit sales growth across all markets compared to the previous year.
Great Eastern Holdings recorded earnings of $437.6 million for the 1QFY2021 ended March, 12.9 times higher than the $33.9 million recorded for the previous year.
In its 1QFY2021 business update released on May 3, Great Easter attributes the higher earnings to higher valuation of investments amid more favourable financial market conditions compared to a year ago.
