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Brief insurance news and digest for the busy executives. A handy insurance news archive with main focus on Malaysia. Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we will not be liable for any loss arising from the use of any information contained in this blog. You may reproduce materials published here provided the source (news.actuaries.com.my) is properly acknowledged.
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Wednesday, 18 February 2009
Great Eastern's Profit Halved
Great Eastern Holdings has announced a drop of 50% in profit for 2008.Selected financial figures from 2008 results:
- Profit attributable to shareholders: $272.4 mil (2007: $546.9 mil)
- NB premiums for life insurance: $3,669 mil (2007: $2,774 mil), growth: 32%
- Market share in Singapore: 29% (2007: 22.5%)
- Market share in Malaysia: 22% (2007: 22.5%)
- Bancassurance market share in Singapore: 46%
- Total assets: $44 bil (2007: $46.5 bil), growth: -5%
- Profit before expenses from Malaysia: $183.3 mil (2007: 326.8 mil)
- NB EV for Malaysia: $109.4 mil (2007: 116.7 mil), growth: -6%
- Management and other expenses: $126.2 mil (2007: $82.3 mil), growth: 53%
Source: Great Eastern
Labels: Financial Results, Great Eastern
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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