Great Eastern's Q3 net profit slumps 72% on market losses and divestment charge
Singapore insurer Great Eastern reported a 72% year-on-year drop in Q3 net profit, citing market swings and a one-off loss on a divestment, according to Reuters.
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what happened
Singapore insurer Great Eastern said its third-quarter net profit fell 72% year on year. The company attributed the decline mainly to negative financial market movements and a one-off loss from a divestment.
Total weighted new sales dropped 3% year on year, which the company linked to softer demand. New business embedded value, however, rose 14% year on year. The figures were reported by Reuters, based on LSEG and company data.
The company expects its core insurance business to remain resilient and says market volatility may weigh on short-term results. Capital adequacy ratios at its insurance subsidiaries remain above regulatory minimums.
why it matters
The story concerns a single company and is unlikely to move broader markets. For investors in Singapore's insurance sector, financial market performance and demand for insurance products are the key drivers of insurers' earnings.
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sources
- Insurance firm Great Eastern's Q3 profit falls on market movements, divestment loss — Reuters, 1 November 2026 at 23:43 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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