Great Eastern's profit down 30%

Singapore-based insurer Great Eastern Holdings Ltd.'s net profit fell 30% year-on-year to $784.2 million Singaporean ($585.8 million) in 2022 due to volatility in the global financial market, The Straits Times reported citing The Business Times. The insurer's gross premiums were down by 2% to SGD18.6 billion. Great Eastern expects inflationary pressures, a difficult investment climate and geopolitical uncertainty to create a challenging business environment in the year ahead.