Insurer Great Eastern posts 26% fall in Q4 net profit
Published on Feb 7, 2014 12:46 PM
Insurer Great Eastern has reported a 26 per cent drop in its fourth-quarter net profit over the previous year to $165.9 million.
The decline came as profit for its insurance business fell 23 per cent from a year ago to $172.1 million for the three months ended Dec 31.
Great Eastern said on Friday that its earnings for the quarter were impacted by two one-off items.
One is that the insurer changed the timing of its terminal bonus recognition during the period, which led to a drag on earnings.
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