Great Eastern Holdings (G07) Q2 2026 earnings summary

Executive summary

• Profit attributable to shareholders rose 43% year-over-year to S$849.5m (or $849.5 million) for 1H 2026, driven by robust investment performance and improved insurance profits.

• Insurance revenue increased 5% to $3,674.4 million, with insurance service result up 32% to $808.9 million, mainly due to reversal of losses on onerous contracts.

• Other investment revenue surged 85% to $3,126.1 million, reflecting favorable equity market conditions.

• Interim dividend of 35 cents per share declared for FY2026, payable on 28 August 2026, up 17% from the previous year's final dividend.

• Maintained strong fundamentals through prudent risk management and a diversified business portfolio.

Financial highlights

• Total Weighted New Sales (TWNS) grew 15% year-over-year to S$813.2m, with strong momentum in Singapore and Malaysia.

• New Business Embedded Value (NBEV) surged 28% year-over-year to S$405.3m, outpacing TWNS growth due to favorable product mix.

• Net investment income rose 49% to $4,371.0 million year-over-year.

• Earnings per share increased 40% to $0.88.

• Return on equity (not annualized) improved to 8.3% from 6.5% a year ago.

Outlook and guidance

• Sustained growth in new sales and embedded value expected, with continued focus on value creation and product mix optimization.

• Dividend policy targets steady, progressive payouts twice yearly, with each payment no lower than the previous, barring unforeseen circumstances.

• Management expects continued volatility in financial markets, impacting mark-to-market valuations and profitability.