Insurer Great Eastern's net profit up 5% for Q4

Insurer Great Eastern posted a 5 per cent year-on-year jump in net profit to S$218.8 million.
Insurer Great Eastern posted a 5 per cent year-on-year jump in net profit to S$218.8 million.PHOTO: ST FILE

SINGAPORE - Insurer Great Eastern reported on Tuesday (Feb 16) a 5 per cent increase in net profit to S$218.8 million, compared with a year ago.

Fourth-quarter operating profit from the insurance business rose 9 per cent to S$169 million.

Total weighted new sales was up 10 per cent to S$307.1 million in the fourth quarter.

Net profit for the full year to Dec 31 dipped 11 per cent from a year ago to S$785.4 million, on the back of lower non-operating profit and less favourable financial market conditions.