Great Eastern Holdings Limited · SGX:G07
Great Eastern — Q1 2016 Earnings Presentation
12 slides from Great Eastern's earnings presentation, Apr 25, 2016
Slide 1: Financial Results for Q1-16 Supplementary Information
GREAT EASTERN HOLDINGS LIMITED Financial Results for Q1-16 Supplementary Information 25 April 2016
Slide 2: Overview of Q1-16 Financial Results
Overview of Q1-16 Financial Results Q1-16 Q1-15 ∆ S$’m Total Weighted New Sales^ 222.9 204.5 +9% New Business Embedded Value* 84.7 84.4 - Operating Profit (net of tax)# from Insurance Business 120.4 150.7 -20% Non-Operating Profit (net of tax)# from Insurance -42.6 41.1 nm Business Profit/loss from
Slide 3: Q1-16 Key Highlights
Q1-16 Key Highlights • Total Weighted New Sales (TWNS) for Q1-16 grew 9% from the same quarter last year to S$222.9m, underpinned by higher sales in both Singapore and Malaysia. Excluding the sales contribution from the Group’s investment in China, which ceased to be accounted for as an associate fr
Slide 4: Total Weighted New Sales (TWNS) – By Market
Total Weighted New Sales (TWNS) – By Market TWNS for Q1-16 grew 9% from same quarter last year to S$222.9m: • Excluding the sales contribution from the Group’s investment in China, which ceased to be accounted for as an associate from December 2015, the Group’s TWNS for Q1-16 was 11% higher than the
Slide 5: Singapore TWNS – By Product Mix
Singapore TWNS – By Product Mix Singapore TWNS of S$150.8m for Q1-16 was 11% higher: • Fuelled by strong sales from the bancassurance channel Y-o-Y Change ∆ Total +11% Single Premium +104% Regular Premium -23% Singapore +11% 185.9 181.9 TWNS – By 150.8 150.8 Product Mix 135.4 135.4 (S$ m) 88.1 75.8
Slide 6: Malaysia TWNS – By Product Mix
Malaysia TWNS – By Product Mix TWNS in Malaysia of S$69.3m for Q1-16 was 14% higher: • Regular premium products continued to drive growth in both the conventional and takaful businesses +14% 117.6 3.8 Malaysia +14% 75.9 TWNS – By 72.3 69.3 3.2 69.3 Product Mix 60.9 60.9 3.2 4.0 4.0 (S$ m) 3.2 3.2 11
Slide 7: New Business Embedded Value (NBEV) - By Market
New Business Embedded Value (NBEV)- By Market Higher NBEV of S$84.7m for Q1-16; NBEV margin of 38.0%: • Lower margin as a result of channel and product mix shifts NBEV 41.3% 42.7% 41.3% 39.4% 36.7% 38.0% Margin (%) 38.0% 114.3 106.6 0.3 1.6 84.4 84.7 86.0 84.7 84.4 1.5 0.6 1.5 1.1 43.7 0.6 35.1 NBEV
Slide 8: Breakdown of Profit from Insurance Business
Breakdown of Profit from Insurance Business Profit from insurance business was S$89.1m for Q1-16, 57% lower than the same quarter last year: • Unrealised losses from the widening of credit spreads and decline in equity markets • Lower operating profit -57% -57% 239.6 205.6 205.6 21.7 Breakdown 13.8
Slide 9: Operating Profit from Insurance Business – by Fund
Operating Profit from Insurance Business – by Fund Operating Profit from Insurance Business of S$120.4 m for Q1-16 was 20% lower: • Higher claims in the Singapore Non-Participating Fund • Profit contributions in Singapore Dollar terms from the Group’s operations in Malaysia were reduced as the Malay
Slide 10: Shareholders’ Fund’s Investments, Other Income and Expenses
Shareholders’ Fund’s Investments, Other Income and Expenses Profit from Shareholders’ Fund’s Investments was S$28.9m for Q1-16, compared with S$45.6m for Q1-15: • Higher investment income as well as higher realised gain from sale of investments and changes in fair value • More than offset by unreali
Slide 11: Group Profit Attributable to Shareholders
Group Profit Attributable to Shareholders Overall, profit attributable to shareholders of S$96.9m for Q1-16 was lower compared with the same period last year: • Largely because of unrealised fair value losses from the valuation of assets and liabilities in the insurance business amid unfavourable fi
Slide 12: Thank You
Thank You 12
Great Eastern Holdings — Q1 2016 Earnings Presentation on 6ix