Great Eastern profit jumps 21% despite 15% sales drop

Total weighted new sales declined 15% as the insurer adjusted its product mix.

Great Eastern’s fiscal year 2025 (FY 2025) profit attributable to shareholders surged 21% year-on-year (YoY) to $1.0b (S$1.21b).

The insurer said the increase was driven mainly by favourable investment performance, with continued earnings emergence from existing policies providing additional support.

Basic and diluted earnings per share attributable to ordinary shareholders of the company were at $1.00 (S$1.26), up 20% YoY.

New sales slowed during the year as the group adjusted its product mix. Total weighted new sales fell 15% YoY compared with the previous year, reflecting a shift away from short-term single-premium products towards a broader range of longer-term offerings.

Despite lower new sales volumes, new business embedded value (NBEV) increased 19% YoY to $584.4m (S$739.7m).

The growth was attributed to improved overall channel productivity and strong bancassurance performance in Singapore.

Including the interim dividend of $0.20 (S$0.25) per share paid in September 2025, total dividends for FY 2025 will amount to $0.43 (S$0.55) per share.

This represents a 22% increase from the previous financial year, in line with the company’s practice of paying progressive dividends based on sustainable profit trends.

Group chief executive officer Greg Hingston said the results were supported by disciplined capital management, operational efficiency and consistent execution across markets.

He added that the group’s performance reflected both favourable investment returns and the strength of its core insurance business.

($1.00 = S$1.27)