Great Eastern

[winston]

Dear All,

I have moved the various discussions on Eldershield and Term Insurance into a new thread titled, "Insurance - General Discussions" located in the "Other Investment Instruments & Ideas" section.

Take care,
Winston

[winston]

Not vested.

RESEARCH ALERT-Citi raises Great Eastern's target price


SINGAPORE, Feb 12 (Reuters) - Following is a list of stock price target changes and rating changes.

COMPANY RIC BROKER RATING (PVS) TARGET PRICE (PVS) GREAT EASTERN CITI BUY (BUY) S$15.50
(S$15.30) HOLDINGS BROKER STATEMENT:

* Great Eastern Holdings (GEH) reported a robust fourth quarter 2009 core profit of S$148 million ($104.9 million), compared to S$211 million in the third quarter, on good non-par and investment linked profits, although below the exceptional highs of third quarter 2009.

Its parent, Oversea-Chinese Banking Corporation , will report fourth quarter 2009 results on February 19 and we forecast an insurance result of S$130 million.

Thus, GEH's actual fourth quarter 2009 life insurance profit of S$128 million may imply small upside risk to our OCBC forecast. We maintain a Buy on GEH, with a revised target price of S$15.50, from S$15.30, based on 1.21 times of 2010 forecast of price over embedded value of S$12.80.

We raise our 2010E-11E earnings on GEH by 12-14 percent, on higher premium growth and non-par, and investment linked life profits.


Source: Reuters

[millionairemind]

May 4, 2010, 5.55 pm (Singapore time)

GEH's Q1 net profit falls 24% due to one-off gain a yr ago

By ANGELA TAN

SINGAPORE - Great Eastern Holdings Limited (GEH) reported on Tuesday that for the quarter ended March 31 2010, its net profit was $179.1 million (US$130.5 million), down 24 per cent from a year ago.

If the one-time profit contribution (after tax) of $195.5 million in the first quarter of 2009 were excluded, net profit is up 332 per cent.

Gross premiums rose 14 per cent compared to a year ago to $1.34 billion mainly due to increased single premium sales.

[millionairemind]

Published July 29, 2010

Great Eastern Q2 earnings slide 24% to $74.4m

Results dragged down by 43% drop in profits from insurance ops

By CHEW XIANG

GREAT Eastern Holdings said net profit for its second quarter to June 30 fell 24 per cent to $74.4 million from $97.7 million a year ago. The poor results were due to starkly lower profits from insurance operations, which slumped 43 per cent year on year to $75 million.

Great Eastern said this was due to a 'poor investment performance arising from concerns relating to eurozone debt', as bond and equity prices around the world fell sharply.

Net profit for first-half 2010 was down 24 per cent to $253.5 million. But last year's results included an extraordinary profit contribution of $198.5 million. Excluding that, net profit for the latest H1 was up 86 per cent from a year ago.

Last year's one-time profit contribution arose from the move to a new risk-based regulatory capital framework in Malaysia and a portfolio matching exercise in Singapore, Great Eastern said.

Profit from investments fell 66 per cent in the latest Q2 due to a loss on the sale of investments and changes in fair value. But management and other expenses also fell - by 63 per cent to $14.8 million. Great Eastern said total weighted new sales rose 30 per cent year on year to $166.1 million, boosted by strong sales in Malaysia and Indonesia.

Q2 fees and other income increased 23 per cent year on year to $18.4 million due to the growth in assets under management by Lion Global Investors, which amounted to $27.8 billion at June 30. Cash and cash equivalents increased 13 per cent to $3.6 billion, from $3.2 billion at the end of last year.

Great Eastern warned that its future performance may be affected by interest rate changes and volatility in the financial markets arising from concerns relating to eurozone debt and an economic slowdown that is becoming apparent in the US, Europe and Asia, including China.

'Moving forward, the second half of the year is traditionally where we would expect sales to pick up, although we are mindful of the possible challenges arising out of the economic conditions in Europe, USA and China,' said Great Eastern's group chief executive Ng Keng Hooi.

'We will continue to focus our strategy on selling more protection products,' he said. 'We will also strengthen our agency force, widen our distribution channels and raise productivity levels.'

Its share price fell 10 cents yesterday to $16.70.

[millionairemind]

September 3, 2010, 5.44 pm (Singapore time)

Great Eastern says CEO has quit

SINGAPORE - Singapore insurer Great Eastern Holdings said on Friday that Group Chief Executive Officer Ng Keng Hooi has resigned to take on a regional appointment in a multi-national corporation.

Mr Ng's last day of service will be Sept 30.

Great Eastern, a unit of Oversea-Chinese Banking Corp, is the largest life insurer in Singapore and Malaysia. The company also operates in China, Indonesia, Vietnam and Brunei. -- REUTERS

[kennynah]

MM....time for you to go lead Great Eastern....

[millionairemind]

MM....time for you to go lead Great Eastern....

haha.. you joke lah... I am but a small timer...

Not a SAF scholar, nor a President scholar, my last name is not even LEE

[winston]

Great Eastern says CEO has quit

SINGAPORE - Singapore insurer Great Eastern Holdings said on Friday that Group Chief Executive Officer Ng Keng Hooi has resigned to take on a regional appointment in a multi-national corporation.

Hmmm.... Keng Hooi gone to join his former boss, Mark Tucker at AIA ?

[kennynah]

haha.. you joke lah... I am but a small timer...

Not a SAF scholar, nor a President scholar, my last name is not even LEE

no need to be lee....wong oso can....

[LenaHuat]

Will GE sue now that it knows the ex-CEO is joining its competitor (like HP)?
No successor has been named