Great Eastern's 1Q earnings more than double to S$342.7m on favourable market conditions

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SINGAPORE (May 3): Great Eastern Holdings, a member of the OCBC Group, saw its earnings for 1Q19 more than double y-o-y to S$342.7 million from S$152.9 million due to higher non-operating profit and profit from shareholders’ fund.

The higher profit was due to higher valuation of the investments as a result of favourable financial market conditions, says Great Eastern in its filing on Friday.

Operating profit from the group’s Insurance Business for the quarter was S$150 million, 8% lower than the same quarter last year... (Click here to read the full story)