However, its net operating surplus for the same period was down 55% to $169.8 million, due to fair value investment losses of its bonds, which were impacted by rising interest rates and credit risk uncertainties.
On the other hand, its general insurance segment was flat, with premium for FY2021 coming in at $379.5 million, versus $380.2 million for FY2020.
Total assets increased slightly from $45.8 billion to $47.3 billion.
"As a company, we banded together and emerged stronger to close 2021 with a set of credible results," says chairman Ronald Ong in the annual report.
