Great Eastern Holdings, the insurance arm of Singapore’s Oversea-Chinese Banking Corp, posted on Monday a 76% drop in third quarter net profit, hurt by marked-to-market losses on its investments.
Great Eastern, one of the largest life insurance providers in Singapore and Malaysia, earned $40.4 million in the three months ended September, down from $168.6 million in the same period a year ago.
Monday, October 31, 2011
Great Eastern's 3Q net falls 76% to $40.4m
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