Corporate Profile

For 101 years, Great Eastern has provided our policyholders with peace of mind and financial security. We are the oldest and most established life insurance group in Singapore and Malaysia with S$ 55 billion in assets and 3.8 million policyholders in both countries. We have two successful distribution channels – the tied agency force and bancassurance – we are the market leader in both Singapore and Malaysia. We are the only life insurance company to be listed on the Singapore Exchange.

Our brand is synonymous with financial strength and dynamism. This has earned us numerous accolades, one of which is the Singapore Brand Award organised by IE Singapore, which we have won for the fifth year running in 2006. We are well regarded as Singapore's 7th Most Valuable Brand and our brand value increased from S$609 million in 2005 to S$693 million in 2006.

In November 1999, Great Eastern Life underwent restructuring to become a wholly-owned life insurance arm of a financial service holding company – Great Eastern Holdings Ltd. This was followed by a merger between Great Eastern Holdings and Overseas Assurance Corporation in December 2000. These two strategic initiatives reflect our determination to take up more competitive challenges and work towards achieving our vision of establishing regional leadership.

Incorporated in 1908, Great Eastern Life Assurance Co Ltd has the distinction of being the oldest and most established life insurance company in Singapore and Malaysia. OAC was incorporated in 1920 as the first composite insurer in Singapore. Great Eastern is the only insurance company in the region with two very successful distribution channels – tied agency and bancassurance.

Recognised for our financial strength and dependability, Great Eastern Holdings became a substantially-owned subsidiary of OCBC Bank, Singapore’s longest established local bank, in June 2004. OCBC Bank has assets of S$188 billion and a network of 530 branches and representative offices in 15 countries and territories including Singapore, Malaysia, Indonesia, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes 411 branches and offices in Indonesia operated by OCBC Bank's subsidiary, Bank OCBC NISP. OCBC Bank and its banking subsidiaries offer a wide range of specialist financial services, from consumer, corporate, investment, private and transaction banking to treasury and stockbroking services to meet the needs of its customers across communities.

In addition to Singapore where Great Eastern is headquartered, and Malaysia with 21 branches, we also have a branch office in Brunei since 1975, a subsidiary company in Indonesia since 1996 and a representative office in Beijing since 2006. In June 2006, Great Eastern and Chongqing Land Properties Group launched their 50:50 joint venture life insurance company, Great Eastern Life Assurance (China) Co Ltd. This new company is headquartered in Chongqing which will act as a bridgehead for our expansion plans into the rest of China. Our wholly-owned life insurance subsidiary in Vietnam, Great Eastern Life (Vietnam) Co. Ltd commenced business operations in September 2008. The branch office in Ho Chi Minh City will be opened by year-end 2008.

Great Easternís asset management subsidiary, Lion Global Investors Limited, is one of the largest private sector asset management companies in Southeast Asia.

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Great Eastern Corporate Profile


Wednesday, 10 Feb 2016 (SGT)
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