Great Eastern Holdings Limited · SGX:G07
Great Eastern — Q2 2014 Earnings Presentation
12 slides from Great Eastern's earnings presentation, Jul 30, 2014
Slide 1: Financial Results for Q2-14 and 6M-14
GREAT EASTERN HOLDINGS LIMITED Financial Results for Q2-14 and 6M-14 Supplementary Information 30 July 2014
Slide 2: Overview of Q2-14 and 6M-14 Financial Results
Overview of Q2-14 and 6M-14 Financial Results Q2-14 Q2-13 ∆ 6M-14 6M-13 ∆ S$ million Total Weighted New Sales^ 219.9 260.8 -16% 446.0 462.9 -4% New Business Embedded Value* 99.1 106.0 -7% 188.5 186.3 +1% Operating Profit (net of tax)# from 142.9 154.5 -8% 286.2 285.7 - Insurance Business Non-Operati
Slide 3: Q2-14 Key Highlights
Q2-14 Key Highlights Key highlights of Q2-14 performance compared with the same quarter last year: • TWNS of S$219.9m was 16% lower: ‒ Sales volume in Singapore in 2013 benefited from the recapture of a high volume of maturing Participating policies ‒ Stable performance in Malaysia from sustained de
Slide 4: Total Weighted New Sales (TWNS) – By Market
Total Weighted New Sales (TWNS) – By Market Q2-14 TWNS of S$219.9m was 16% lower: • Sales volume in Singapore in 2013 benefited from the recapture of a high volume of maturing Participating policies • Stable sales through the agency channel in Malaysia -4% 462.9 17.3 446.0 13.4 -16% 139.3 143.5 307.
Slide 5: Singapore TWNS – By Product Mix
Singapore TWNS – By Product Mix • Q2-14 Singapore sales of S$131.9m showed a decline of 24% as the agency channel benefited from the recapture of a high volume of maturing policies in Q2-13 • Sales through the bancassurance channel were also lower during the quarter -6% Change over prior period ∆ 30
Slide 6: Malaysia TWNS – By Product Mix
Malaysia TWNS – By Product Mix • Sales in Malaysia up 2% to S$82.0m in Q2-14, driven mainly by sustained demand for regular premium Investment-linked products in the conventional business +3% 139.3 143.5 8.6 +2% 6.3 116.0 Malaysia 5.2 TWNS- By Product Mix 82.0 80.5 77.7 (S’m) 2.9 4.0 4.6 58.8 61.5 1
Slide 7: New Business Embedded Value (NBEV)- By Market
New Business Embedded Value (NBEV)- By Market • NBEV margin improved to 45.1% in Q2-14 due to a positive shift in product and channel mix in Singapore 45.1% NBEV Margin 40.2% 42.3% 39.7% 40.6% 39.8% 41.7% 39.5% (%) +1% 186.3 188.5 4.2 3.7 -7% 68.6 71.1 128.0 106.0 109.6 1.9 1.6 99.1 NBEV – By 2.0 89
Slide 8: Breakdown of Profit from Insurance Business
Breakdown of Profit from Insurance Business Higher profit from insurance business of S$228.8m in Q2-14, net impact of: • Lower operating profit*, as profit in the same quarter last year was boosted by a larger release of tax provisions in Singapore following greater clarity over treatment of specifi
Slide 9: Operating Profit from Insurance Business – by Fund
Operating Profit from Insurance Business – by Fund Q2-14 operating profit of S$142.9m: • Excluding the impact of tax provisions released, operating profit from Singapore Non-participating fund was higher than last year, driven by profits from a growing in-force business and a better product sales mi
Slide 10: Investments in Shareholders’ Fund, Other Income and Expenses
Investments in Shareholders’ Fund, Other Income and Expenses • Q2-14 profit from investments in Shareholders’ Fund increased 34% to S$37.6m, mainly brought about by higher dividend income and mark-to-market gains in held-for-trading instruments • Expenses remained stable +32% 103.2 78.3 34.4 +34% 35
Slide 11: Group Profit Attributable to Shareholders
Group Profit Attributable to Shareholders • Q2-14 Group profit attributable to Shareholders of S$244.6m, largely a result of the significantly higher unrealised mark-to-market gains from more favorable financial market conditions +111% 476.2 nm 103.2 282.8 226.1 231.6 244.6 Group Profit 207.5 64.6 A
Slide 12: Thank You
Thank You Great Eastern Life is Great Atenmber ofthe OCBE Groep 11
Great Eastern Holdings — Q2 2014 Earnings Presentation on 6ix