Great Eastern Life Assurance Co. Ltd
Established in 1908, Great Eastern is the oldest and one of the largest life insurance companies in Singapore, offering comprehensive life, health, and investment-linked insurance plans.
Great Eastern Life Assurance Co. Ltd is part of Great Eastern, a Singapore-founded insurer established in 1908. The group describes itself as a market leader and trusted brand in Singapore and Malaysia, with operations also in Indonesia and Brunei. Its Singapore personal insurance site covers life protection, health insurance, personal accident, critical illness, retirement income, wealth accumulation, travel, car, home, maid insurance and national schemes such as Dependants’ Protection Scheme. Great Eastern distributes insurance through tied agency, bancassurance and financial advisory channels, including Great Eastern Financial Advisers. The company is a subsidiary of OCBC, and its profile states that Great Eastern Life Assurance and Great Eastern General Insurance have financial strength ratings of AA by Fitch and AA- by S&P Global Ratings. For life insurance buyers, its range spans protection, health and wealth planning.
Great Eastern Life Assurance stands as a testament to enduring financial excellence in Singapore's insurance landscape. With its rich heritage spanning over a century, the company has consistently demonstrated its ability to adapt and innovate while maintaining strong financial fundamentals. Their extensive product portfolio caters to diverse customer needs, from basic protection to sophisticated wealth accumulation solutions.
Selected for its unparalleled legacy in Singapore's insurance sector, robust financial standing, and comprehensive product offerings. Great Eastern's commitment to innovation, customer-centric approach, and strong backing from OCBC Bank makes it a reliable choice for long-term financial planning and protection needs.
The editors' scorecard - 82/100
Century-long heritage with strong market presence and OCBC backing
Professional service but room for improvement in claim processing speed
Extensive network of offices and digital platforms for easy access
Competitive pricing but premiums tend to be higher than some competitors
Good digital initiatives but could be more aggressive in technological adoption