*Official* Great Eastern Holdings

[Perisher]

Great Eastern Holdings Limited, an investment holding company, provides financial advisory services and insurance products in Singapore, Malaysia, and other Asian countries. It operates through Life Assurance, General Assurance, and Shareholders segments.

The Life Assurance segment provides life, long-term health and accident, annuity, and unit-linked insurance products. The General Assurance segment offers short term property and casualty products, including fire or burglary insurance contracts and/or business interruption contracts, and public liability insurance contracts; and short term medical and personal accident general insurance products. The Shareholders segment provides fund management services for absolute return/balanced mandates; and manages various products, including Asia Pacific equities, and Asian and global fixed income securities portfolios for Singapore statutory boards, government-linked corporations, public and private companies, insurance companies, and charity organizations.

Great Eastern Holdings Limited is also involved in the asset management, property investment, and family Takaful business activities. The company was founded in 1908 and is based in Singapore. Great Eastern Holdings Limited is a subsidiary of Oversea-Chinese Banking Corporation Limited.

 

[Perisher]

Some infor
http://www.investark.com/Analysis14ge3q14.html

For the third quarter of 2014, the company reported gross premiums of $2.1 bil, a decrease of 4% year on year. Profits from its insurance business dropped 28% year on year to $180.7 mil while profit after tax dropped 31% year on year to $196.8 mil. On a year to date basis, its 9 month gross premiums increased marginally by 2% year on year while profit after tax increased 32% to $677.2 mil, mainly due to significantly higher unrealised mark to market gains due to favourable financial market conditions.



With respect to its stock performance, Great Eastern is currently trading at $24.15, which is close to its 52 week high of $24.4 and is trading 39% above its 52 week low of $17.37. At its current price, this translate to a PE of 17.0 based on its latest full year earnings, and 12.8 based on its year to date earnings on an annualised basis. The company also has a dividend yield of about 2.6%.

 

[Keverus]

bro Perisher, smlj, I expected more from you. type so long, never even put share price.

 

[Perisher]

http://singaporestockmarketnews.blogspot.sg/2014/02/great-eastern-holdings-4q13-result.html

Strong new business growth
Total weighted new business sales were S$307 mn in 4Q13, up 19% YoY. Singapore new business growth was particularly strong (+22%), driven by growth in all channels (with one-off boost from maturing centennial sales in 2008 now fading—shown by 25% growth in regular premium business). Malaysia new business was up 15% YoY, with strong growth in conventional products and Takaful—outperforming major peers according to our channel checks.

Value of new business (VNB) was up 15% mainly on stronger new business premium growth, with slightly lower margin. Headline VNB growth was 41% due to change in assumption (lowering of risk discount rate).

https://0212e301-a-62cb3a1a-s-sites...rNRNUxjrX6sNLDbN5fyvjWKgbiOLdP&attredirects=0

 

[felixleong]

btw OCBC owns 80%+ of GE

I like GE, but own it via OCBC, hehehe

 

[Perisher]

Wait, I'm sharing more information for analysis, share price can easily find online what?

here, https://sg.finance.yahoo.com/q?s=G07.SI
$25.10, on a huge run up for the past year.
The 2 year chart looks even more impressive.

 

[Keverus]

Wait, I'm sharing more information for analysis, share price can easily find online what?

here, https://sg.finance.yahoo.com/q?s=G07.SI
$25.10, on a huge run up for the past year.

chill chill, joking with u la.

 

[Perisher]

http://www.dealstreetasia.com/stori...selling-new-china-life-insurance-shares-5115/
Great Eastern Holdings, the insurance arm of Singapore’s second-largest bank, Tuesday said it had raised S$762.9 million ($555 million) million by selling shares in New China Life Insurance Co.

The company, by selling 85 million New China Life shares, through its units Great Eastern Life Assurance and Overseas Assurance Corp, has booked a profit of S$123 million.

It had sold these 85 million New China Life shares at HK$50.65 each during the current surge in the Hong Kong market, the company said in a regulatory filing with the Singapore exchange. This translates to the Great Eastern Holdings selling 8.22 per cent equity holding in New China Life.

Post the sale, it continues to have a minority 1.79 per cent equity in New China Life Insurance, its regulatory filing added.

The company had bought New China Life shares worth $380 million in 2011 as a cornerstone investor, when the latter had done an IPO.

Great Eastern Holdings is not the only Singapore firm to ride the Hong Kong markets boom. Bloomberg in an April 14 report said that “Singapore sovereign wealth fund GIC also took advantage of the surge in Hong Kong shares, raising $65.4 million selling shares in equipment lessor Far East Horizon.”

 

[Keverus]

btw OCBC owns 80%+ of GE

I like GE, but own it via OCBC, hehehe

do you think OCBC will own it fully one day?

few things about OCBC-GE relationship:

1. right now, all of OCBC's bancassurance products are GE, with exception for UL.

2. last year, OCBC retained their top banca position, but by the slightest of margins. OCBC has been top banca for years and years...so that was a real alarming signal.

3. OCBC's banca sales this year not exactly very stellar.

 

[Perisher]

Also, heard from curry sauce, privatization is a possibility.
I will be waiting to jump in when the share price drop big... say around $24.

I'm not buying just because it might be taken private but also insurance business is a solid business, just ask BRK.B.

 

[felixleong]

do you think OCBC will own it fully one day?

few things about OCBC-GE relationship:

1. right now, all of OCBC's bancassurance products are GE, with exception for UL.

2. last year, OCBC retained their top banca position, but by the slightest of margins. OCBC has been top banca for years and years...so that was a real alarming signal.

3. OCBC's banca sales this year not exactly very stellar.

u have to look at the history

think OCBC tried to take GE private twice already... usually OCBC will wait for bear market then make an offer one...

but twice OCBC also failed to take it private, those old folks die die want to hug their GE shares... LOL

 

[felixleong]

insurance last time very good money

early 80s and 90s

NTUC and Great Eastern were very dominating and older folks believe they are garmen backed, very safe... will not run road

now pass 2000... a lot of ang mo insurance companies come in... very competition riao

NTUC and GE are still doing well due to trust and word of mouth... u all ask around your relatives.. uncles and aunties.. probably a lot of them still have NTUC and GE policies

if u look at pricing... other firms have better offerings

disclaimer.. I using NTUC LOL

 

[Perisher]

GE not simpur, the business very resilient, just like many insurance company all over the world. Been looking at AFL in NYSE, dividend champion with solid result. Geico another one.

 

[Shion]

OCBC has their own insurance, right?

 

[Shion]

OCBC using GE lor.........LOL

Ok I am confused

http://www.ocbc.com.sg/personal-banking/insurance/insurance.html

All these are GE or OCBC ?

 

[Keverus]

Ok I am confused

http://www.ocbc.com.sg/personal-banking/insurance/insurance.html

All these are GE or OCBC ?

OCBC's insurance products are all under GE.

other than UL. under trans america

 

[Keverus]

Ok I am confused

http://www.ocbc.com.sg/personal-banking/insurance/insurance.html

All these are GE or OCBC ?

when banks sell insurance products, they are merely just selling on behalf of insurance companies...

POSB/DBS-Aviva, but 2016 will be Manulife
OCBC- GE
UOB- Prudential (used to have Manulife)
SCB- Prudential and Manulife (nt sure)
BOC-AIA, TM and Manulife
Citi- AIA

As you can see, some banks stick with just one provider, signing an exclusivity deal with that insurer. Others dont.

 

[Keverus]

oh yeah, forgot to mention, GE can only sell their products through OCBC (if they want to do it via bank channel).

 

[Keverus]

haha i wish..just happen to have a few friends working in banks lor..

 

[Shion]

Thanks for the information, Keverus