Great Eastern outlines 2025 priorities with focus on value creation
Great Eastern Holdings has set its strategic priorities for 2025, emphasizing growth, value creation, and enhanced customer service. The company plans to broaden its wealth accumulation product offerings and strengthen its bancassurance model with OCBC and Bank of Singapore. Upcoming enhancements include improved digital platforms and AI capabilities to boost operational efficiency. In 2024, Great Eastern reported total weighted new sales of US$760m, new business embedded value of US$472.4m, and profit attributable to shareholders of US$756.5m.
It plans to expand its product offerings in wealth accumulation.
Great Eastern Holdings has outlined its strategic priorities for 2025, focusing on accelerating growth, creating value, and improving customer advocacy and service delivery.
The company, during its annual general meeting, said it plans to expand its product offerings in wealth accumulation, decumulation, legacy planning, medical, and critical illness.
It also aims to strengthen its bancassurance model through closer integration with OCBC and Bank of Singapore.
Enhancements to digital platforms and tools are in the pipeline to improve customer and financial representative experiences.
Great Eastern will further develop data and artificial intelligence capabilities to support business growth, operational efficiency, and risk management.
The insurer is also working to consolidate operations to achieve scale efficiencies and will explore future segment-led channel models.
For 2024, the group posted US$760m (S$1.8b) in total weighted new sales, US$472.4m (S$621.5m) in new business embedded value, and US$756.5m (S$995.3m) in profit attributable to shareholders.
