Singapore insurer Great Eastern Holdings (GELA.SI) said on Wednesday its first quarter net profit fell 11% year-on-year, hurt by smaller investment income and higher expenses.
The firm reported net profit of $158.7 million in the quarter ended March 31, 2011. The lower earnings were offset by sales growth of 33% across its main markets of Singapore, Malaysia and China.
The firm reported net profit of $158.7 million in the quarter ended March 31, 2011. The lower earnings were offset by sales growth of 33% across its main markets of Singapore, Malaysia and China.
Great Eastern is about 87% owned by Singapore’s Oversea-Chinese Banking Corp (OCBC.SI).
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