New business embedded value grew by 21% y-o-y to $163.2 million on the back of strong sales.
While no numbers were given, the group said its capital adequacy ratios of its insurance subsidiaries are “strong” and “well above” their respective minimum regulatory levels.
During the month, the group published its sustainability report for the FY2023 and issued $500 million subordinated notes under its Euro medium term note programme priced at 3.928% per annum (p.a.).
“For the first quarter, the group registered strong growth momentum despite the challenging business environment, underscoring the effectiveness of our distribution, product, and digital strategies,” says group CEO Khor Hock Seng, adding that the group will “continue to take firm steps” to grow its business and “create sustainable value” for its stakeholders.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
Shares in Great Eastern closed at $18.69 on April 26.
