Total weighted new sales (TWNS) for the 3QFY2025 fell by 5% y-o-y to $373.1 million mainly due to lower single premium sales in Singapore after a change in product mix to align with emerging customer needs for longer-term financial planning priorities. TWNS for the 9MFY2025 fell by 21% y-o-y to $1.08 billion for the same reason.
That said, a more favourable product mix led to improved overall margins. This led to y-o-y growth in the group’s new business embedded value (NBEV) of $182.2 million and $498.7 million for the 3QFY2025 and 9MFY2025 respectively, 17% and 16% higher y-o-y.
The capital adequacy ratios of Great Eastern’s insurance subsidiaries are said to remain strong and above their respective minimum regulatory levels.
Great Eastern’s group CEO Greg Hingston noted the group’s “solid performance” over the quarter amid a “challenging” business environment, adding that the group will remain "steadfast" in "executing our growth strategy as we work to conclude the year on a solid footing".
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Shares in Great Eastern closed 2 cents higher or 0.13% up at $15.04 on Oct 29.
