OCBC to maintain Great Eastern support despite failed full acquisition: report

GEH is expected to maintain its healthy capitalization and profitability, says S&P.

Oversea-Chines Banking Corporation’s (OCBC) unsuccessful attempt to acquire 100% ownership of Great Eastern Holdings (GEH) will not affect its support for the insurance group, said S&P Global Ratings.

Minority shareholders of GEH voted against OCBC’s proposal to privatize the insurer. OCBC’s ownership of GEH will remain at 93.72%, although its voting shareholding will likely be revised as minority shareholders select either bonus ordinary shares or non-voting shares.

In an 11 July 2025 commentary, S&P reaffirmed its belief that OCBC's continued majority ownership of GEH underscores its long-term commitment and support for the insurance group.

“OCBC will continue to support the insurer’s business strategy and benefit from synergies as part of its "One Group" approach,” S&P said.

GEH's two main operating entities are The Great Eastern Life Assurance Co. Ltd. and Great Eastern General Insurance Ltd.

GEH is expected to maintain healthy capitalization and profitability.

In Q1 2025, GEH’s profit attributable to shareholders was S$345.5m, a 13% year-on-year growth on fair value gains from bonds and improving insurance business profits.