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Founded in 1908, Great Eastern is the oldest and most established life insurance group in Singapore and Malaysia. With over S$85.0 billion in assets and around 4 million policyholders, we have three successful distribution channels - a tied agency force, bancassurance, and a financial advisory firm, Great Eastern Financial Advisers.
The Group also operates in Indonesia and Brunei and has a presence in China as well as a representative office in Myanmar. We were named Life Insurance Company of the Year at the Asia Insurance Industry Awards in 2011 and 2013, by Asia Insurance Review.
Great Eastern Life Assurance Company Limited has been assigned the financial strength and counterparty credit ratings of 'AA-' by Standard & Poor's since 2010, one of the highest among Asian life insurance companies.
As a LIFE company, we go beyond the traditional role of an insurance company to actively help customers live healthier, better and longer. This is supported by an integrated health and wellness Live Great programme, which provides wellness tools, mobile apps, health tips, workshops and events as well as exclusive privileges - that helps and rewards customers in their journey to better health.
The Group's general insurance business is underwritten by its wholly-owned subsidiary, Great Eastern General Insurance Limited (GEG), formerly known as the Overseas Assurance Corporation Limited (OAC) which was founded in 1920. GEG offers a wide range of commercial and personal line products and distributes its products through bancassurance, agents, brokers, financial advisors and direct channels.
Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the largest private sector asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC Bank, the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker.
A leader in bancassurance
In 1992, Great Eastern became the first insurer to establish a bancassurance network in Singapore in an exclusive partnership with OCBC Bank. We have built upon our synergistic Great Eastern-OCBC collaboration and continued to be a market leader in bancassurance. We will continue to develop new growth opportunities in the bancassurance market, with a focus on delivering the best value and convenience to OCBC Bank customers by offering quality products and customer service.
Our general insurance business
Great Eastern General Insurance Limited (GEG) offers a wide range of commercial and personal line products and distributes its products through bancassurance, agents, brokers, financial advisors and direct channels.
GEG strives to make it easy for customers and intermediaries by providing them with quality support, innovative products, accurate advice and prompt information. It recently launched its TravelSmart Premier mobile app for travel insurance and more products will be available via mobile apps soon.
Your trusted partner in group insurance
Great Eastern is one of Singapore’s top 3 insurers in the Group Insurance market and we provide insurance coverage for close to half a million employees and their families through our group insurance schemes.
Our products are well received and trusted by HR professionals in the region. Our effective solutions has earned us awards such as the “HR Vendor of the Year 2015 (Silver winner)” by the Human Resource Magazine, for Best Insurance Vendor and Best Retirement and Pension Plans.
Great Eastern adopts technology to increase efficiency and improve overall customer satisfaction. Our claims portal has enhanced security features and allows users to submit and track claims anytime and anywhere. An iOS and Android compatible mobile app with features such as e-medical card and a panel clinic locator is also available.