G07.SI
SGX50SESGreat Eastern Holdings Limited
Financial Services · Insurance - Life · Singapore
Great Eastern Holdings Limited, an investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia. It operates through Life Insurance, Non-Life Insurance, and Shareholders segments. The company offers life, health, and personal accident insurance; retirement income, wealth accumulation, and investment-linked funds; as well as travel, car, home, and maid insurance. It also provides National Schemes, such as Dependants' Protection Scheme, a term-life insurance scheme that covers death, terminal illness, and total permanent disability; Great Legacy Programme; MediSave-approved; and other property and casualty insurance for businesses. In addition, the company offers asset management services. It serves through distribution channels, such as tied agency force, bancassurance, brokers and financial advisory firm Great Eastern financial advisers. The company was formerly known as Pastiche Limited. Great Eastern Holdings Limited was founded in 1908 and is based in Singapore. Great Eastern Holdings Limited is a subsidiary of Oversea-Chinese Banking Corporation Limited.
www.greateasternlife.com ↗Shares trade at a low 12.9× trailing earnings, easing to 6.2× on forward estimates. Profitability shows a net margin of 14.1% and return on equity of 12.7%. Leverage is modest at -40.9× net debt/EBITDA. Revenue grew 0.6% year-on-year. It yields 3.4% in dividends.
business model
Great Eastern Holdings is one of the largest and oldest life insurance groups in Singapore and Malaysia, operating primarily through life and health insurance, general insurance, and asset management. It is majority-controlled by OCBC Bank and distributes products through a tied agency force, bancassurance (notably with OCBC), and financial advisory channels. Profit is driven by underwriting margins plus investment returns on a large policyholder and shareholder asset base.
revenue segments
The core is life and health insurance in Singapore and Malaysia (participating, investment-linked and protection products), complemented by general insurance and a fund management arm (Lion Global Investors). Revenue comprises insurance premiums, fee income and investment income, with a growing emerging-markets presence in markets such as Indonesia.
key dependencies
Results depend on investment returns and interest-rate/credit-spread movements that affect the valuation of its bond-heavy portfolio and insurance liabilities, as well as new-business volumes and persistency. The OCBC bancassurance relationship and agency productivity are key distribution dependencies. Regulatory capital regimes (e.g. Singapore RBC and Malaysian rules) shape solvency and dividend capacity.
competitors
It competes with life insurers such as Prudential, AIA, Manulife, Income Insurance and Singlife in Singapore, and with major insurers in Malaysia. In asset management and general insurance it faces a broad set of regional and global players.
moat
Its moat comes from a century-old brand, a large in-force policy book, scale in two core markets, and privileged bancassurance access through parent OCBC's branch and customer network. Long-duration policyholder relationships and accumulated actuarial and investment expertise create switching inertia.
risks
Investment-market and interest-rate swings can create earnings volatility and pressure embedded value. Ownership is concentrated in OCBC, which has pursued raising its stake; following a 2024 voluntary offer OCBC's holding rose above the level needed to keep a 10% public float, leading to a suspension of trading in the shares and uncertainty around future free float and any privatisation outcome. Other risks include regulatory change, mortality/morbidity experience, and competition in distribution.
Financials & metrics
as of 04 Jul 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Income-statement history isn't available for this security.
Dividends
This company does not currently pay a dividend.
Analyst assessment
No analyst coverage available from the data source for this stock.
Technicals
as of 03 Jul 2026News
No recent news available from the data source for this stock.