SINGAPORE - Great Eastern Holdings on Wednesday posted a net profit of $287 million for the fourth quarter ended Dec 31, 2019 more than double the $136.9 million a year ago.
Meanwhile, operating profit rose 1 per cent to $173.7 million from $172.1 million for the year-ago period. The insurance arm of OCBC Bank said this was due to higher valuation of its investments due to"favourable financial market conditions".Driven by Great Eastern's businesses in Singapore and Malaysia, total weighted new sales gained 19 per cent to $395 million, from $330.6 million a year ago.
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