Great Eastern's profit attributable to shareholders rises 34% in 1H2024

The Edge Singapore
1-min read

Great Eastern Holdings' profit attributable to shareholders rose by 34% y-o-y in 1H2024

Great Eastern Holdings announced Profit Attributable to Shareholders registered an increase of 34% y-o-y in 1H2024 to $587.1 millioin, driven by higher profit from insurance business and favourable investment performance in shareholders’ fund.

A closer look shows a higher contract service margin (CSM) and risk adjustment release from the Life business. Total weighted new sales (TWNS) in the first half rose by 34% y-o-y. Singapore's TWNS was up 38% and Malaysia's was 30% y-o-y in 1H2024. New business embedded value (NBEV) rose 16% y-o-y to $338.9 million for the six months to June 30.

 

Great Eastern's board has announced a dividend of 45 cents, up 12.5% y-o-y.

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