Great Eastern profits down 26% to $213.3m QoQ
MoM, however, there is a 43% increase due to more favourable conditions.
A report released by Great Eastern revealed that profit attributable to shareholders was down 26% quarter-on-quarter to $213.3m.
However, when compared on a month-on-month basis, a 43% increase was recorded because of more favourable conditions compared to a year ago.
The third quarter of 2021 also saw operating profits increase by 46% to $248.7m.
Total weighted new sales and new business embedded value also followed this increase by 29% and 45%, respectively. This was due to the execution of the group’s distribution, product, and digital strategies despite the impact of COVID-19 on Malaysian Sales.
Group CEO Khor Hock Seng reiterated the company’s continued focus on the business’ resiliency and evolving to meet the challenges presented by the pandemic.