Great Eastern Singapore

What Great Eastern Singapore does

Great Eastern Singapore is the Singapore-headquartered general insurance arm of Great Eastern Holdings Limited (SGX: G05), a subsidiary of OCBC Bank and one of the oldest established insurance groups in Southeast Asia, founded in 1908. The company provides a comprehensive portfolio of general insurance products spanning personal lines (motor, home, travel, personal accident, health) and commercial lines (business package, commercial property, construction and engineering, marine, liability, professional indemnity, workmen's compensation, group personal accident), serving both individual retail customers and corporate/business clients across Singapore, Malaysia, and Indonesia. Specialized products include the Drive and Save Plus motor offering in Singapore, Easi Health and Easi HealthCare medical repricing products in Malaysia, and a joint Great Accident and Life Protection product with Great Eastern Life Indonesia that bundles accident and life coverage.

The company operates a multi-channel distribution model that includes tied agency networks, bancassurance partnerships (notably with parent OCBC and Bank BTPN in Indonesia), independent insurance brokers, and direct digital channels including online travel insurance purchasing, online claim reporting portals, and the GREAT Auto Assist mobile app for roadside assistance in Malaysia. Its product platform supports digital policy management, e-invoicing compliance, and online claims submission for travel and personal accident insurance. Marine insurance capabilities in Indonesia are enhanced through a collaboration with British Marine for Protection & Indemnity cover in the Asia Pacific region. Recent launches include Electric Vehicle Insurance in Indonesia (2024) and the Great Accident and Life Protection joint product (2023).

Great Eastern's revenue model is built on recurring insurance premiums collected across personal and commercial lines, with quote-based pricing that varies by coverage type, risk profile, sum insured, and policy term, billed primarily on an annual cadence. The Great Eastern Group maintains a strong financial position with over S$122 billion in total assets as of 2023, more than 16 million policyholders (including 11.7 million from government schemes), an AA- credit rating from S&P and AA from Fitch, and operations across Singapore, Malaysia, Indonesia, and Brunei through 12 branch offices in Indonesia. Regulatory oversight spans MAS in Singapore, BNM in Malaysia, and OJK in Indonesia.

Name

Great Eastern Singapore

Legal name

Great Eastern Holdings Limited

Website

https://greateasterngeneral.com

Company type

Public

Founded year

1908

Operating status

Operating

Headcount range

1–10 employees

Short description

Great Eastern Singapore is the general insurance arm of OCBC subsidiary Great Eastern Holdings, providing motor, home, travel, personal accident, health, and commercial insurance across Singapore, Malaysia, and Indonesia through agency, bancassurance, and digital channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (52421)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Standard Personal Auto Insurance (Liability, Collision & Comprehensive) (FSAJAAAA), Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ), General Liability Insurance (FSAJAMAE)

Keywords

• General insurance
• Motor insurance
• Travel insurance
• Commercial insurance
• Personal accident insurance

Headquarters

HQ city

Selangor

HQ country

Malaysia

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others, Infrastructure

Revenue model

1. General Insurance Premiums: Collection of insurance premiums from individual and corporate policyholders across motor, home, personal accident, travel, health, and business insurance product lines.
2. Corporate and Group Insurance Policies: Group insurance solutions for businesses including workmen's compensation, group personal accident, commercial property, marine, construction, and liability covers, generating recurring premiums from corporate clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Great Eastern Singapore operates as Great Eastern General Insurance, providing a comprehensive general insurance portfolio spanning personal lines (motor, home protection, personal accident, health, travel) and commercial lines (business package, commercial motor, commercial property, construction and engineering, marine, general/professional liability, employers' liability, workmen's compensation, group personal accident). Products are distributed through tied agents, bancassurance partners (OCBC, Bank BTPN), independent brokers, and direct digital channels across Singapore, Malaysia and Indonesia.

Product overview

Great Eastern Singapore operates as part of the Great Eastern Group (OCBC subsidiary), offering a comprehensive general insurance portfolio. The core offerings span personal lines (motor, home, travel, personal accident, health) and commercial lines (business packages, commercial property, construction, marine, liability, professional indemnity, workers' compensation). Products are distributed through agency, bancassurance, and direct channels. The Indonesia operations additionally offer specialized marine insurance through a collaboration with British Marine, and the Malaysia operations provide the GREAT Auto Assist Mobile App for roadside assistance. Online Claim Reporting is available for select products.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Vehicle insurance covering accidents, damage, theft and third-party liability for personal vehicle owners.
• Drive and Save Plus Motor insurance product with enhanced protection features and greater premium savings for personal vehicle owners in Singapore.
• Home Protection Property insurance protecting homes and apartments against fire, theft, natural disasters and third-party liability for individual owners and occupiers.
• Personal Accident Insurance Coverage providing financial protection against accidental death, disability and medical expenses for individuals, with 24-hour worldwide protection.
• Health Insurance Health insurance providing coverage for medical expenses and healthcare services for individual policyholders.
• Travel Insurance Insurance covering trip cancellations, medical emergencies, lost baggage and travel-related risks for both domestic and international travel, with online digital purchase including via OCBC Mobile in Indonesia.
• Business Insurance Corporate insurance solutions protecting SMEs and large enterprises against various operational risks across the Singapore corporate book.
• Commercial Motor Insurance Fleet and commercial vehicle insurance covering third-party liability, passenger coverage and comprehensive protection for company vehicles.
• Commercial Property Insurance Property insurance for businesses covering fire, natural disasters, business interruption, machinery breakdown, burglary and money risks.
• Construction and Engineering Insurance Insurance covering Contractors' All Risks (CAR), Erection All Risks (EAR), machinery breakdown and business interruption for construction and engineering projects.
• Marine Insurance Marine insurance covering cargo, builders' risk, shipowners' protection and indemnity (P&I), marine liability, and ports and terminals, with P&I capability developed in collaboration with British Marine (established 1876, the largest P&I insurer outside the International Group of P&I Clubs).
• Workmen's Compensation Insurance Workers' compensation insurance covering medical costs, lost wages, permanent disability and repatriation expenses for work-related injuries.
• Group Personal Accident Insurance Employee group insurance covering accidental death, lump-sum payments for permanent disability, accident medical costs and funeral expenses, sold as an employee benefit to corporate clients.
• Professional Liability Insurance Professional indemnity insurance covering errors and omissions, directors and officers liability, association liability and ICT liability for various professionals.
• Great Accident and Life Protection Joint insurance product between PT Great Eastern General Insurance Indonesia and PT Great Eastern Life Indonesia offering comprehensive protection including accidental death, permanent disability, medical expenses due to accidents, and non-accidental death (illness) coverage.
• Electric Vehicle Insurance Electric vehicle insurance providing comprehensive protection for electric vehicles, launched in 2024 to address the growing EV market in Indonesia.

Quantifiable outcome

• Over S$122 billion in group assets and 16 million+ policyholders across the Great Eastern Group.
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• British MarinecoreStrategic or Co-development PartnerCollaboration between Great Eastern and British Marine (established 1876) for Protection & Indemnity (P&I) insurance. British Marine is the largest and longest-established P&I insurer outside the International Group of P&I Clubs. This collaboration leverages both operations to create a comprehensive P&I facility for the Asia Pacific region.
• STMA Trisakti & AAUIminorGTM or Marketing PartnerJoint mangrove planting CSR program conducted annually with STMA Trisakti (Sekolah Tinggi Management Asuransi Trisakti) and AAUI (Asosiasi Asuransi Umum Indonesia). Activities in 2023-2025 have involved planting 2,500-3,000 mangrove seedlings to support environmental sustainability.
• RekosistemminorGTM or Marketing PartnerCollaboration on ESG initiatives including the Great Plogging Day 2025 event, combining environmental cleanup with fitness activities as part of Great Eastern's sustainability program.
• OCBC SocietyminorGTM or Marketing PartnerParticipation in OCBC Society CSR programs, supporting community outreach initiatives as part of the OCBC Group's corporate social responsibility activities.
• 1SurelyminorChannel Partner/ Reseller/ DistributorNew partnership with 1Surely for insurance distribution in Indonesia, announced in 2023.
• Bank BTPNcoreChannel Partner/ Reseller/ DistributorBancassurance partnership for retail market expansion in Indonesia. Great Eastern Indonesia expanded its retail market reach by collaborating with Bank BTPN, leveraging the bank's customer base for insurance product distribution.
• Ruang Menyala OCBCminorGTM or Marketing PartnerFinancial fitness collaboration with Ruang Menyala OCBC and financial influencer Muhamad Sadam, conducting Financial Fitness Classes to promote financial literacy.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sompo Insurance Singapore: Singapore general insurer of Sompo International (Japanese parent), offering motor, home, travel, personal accident and commercial lines. Direct competitor to Great Eastern in the same agency + broker + digital channel mix across Singapore and the broader ASEAN region.
• Chubb Insurance Singapore: Singapore operation of global P&C giant Chubb, providing personal accident, motor, home, travel and a deep commercial portfolio including professional indemnity and D&O. Direct competitor across both retail and complex commercial accounts.
• Liberty Insurance Singapore: Singapore general insurer (Liberty Mutual Group affiliate) focused on personal lines and SME commercial. Competes with Great Eastern for retail motor, home, travel and small-business package products via similar agent and broker channels.
• NTUC Income Insurance: Singapore cooperative insurer offering motor, home, travel, personal accident, health and commercial lines. Closely comparable product set to Great Eastern, and one of the most direct retail competitors in the Singapore market.
• MSIG Insurance (Asia) Pte Ltd: Singapore- and Malaysia-headquartered general insurer under Japanese parent MS&AD. Operates the same multi-line P&C portfolio (motor, travel, personal accident, SME, commercial) across the same geographies and competes directly with Great Eastern for both retail and corporate accounts.
• Tokio Marine Insurance Singapore: Singapore arm of Tokio Marine, one of the largest Japanese P&C groups. Underwrites the same personal and commercial lines and competes for the same corporate, marine and construction risks as Great Eastern across ASEAN.
• AXA Insurance Singapore: Singapore general insurer of AXA Group, offering motor, home, travel, health and commercial P&C products via agency and bancassurance channels. Direct competitor in retail and SME segments and a like-for-like multi-channel model.
• Allianz Insurance Singapore: Singapore general insurer of Allianz SE, distributing personal and commercial lines through agents, brokers and digital channels. Competes with Great Eastern for retail customers, SMEs and large corporate accounts across ASEAN.

Emerging players

• FWD Insurance Singapore: Singapore arm of pan-Asian digital-first insurer FWD Group, aggressively growing in motor, travel, health and accident products via digital channels. An emerging competitor challenging Great Eastern's standard retail book with a lower-cost distribution model.

Broad incumbents

• AIG Asia Pacific Insurance: Singapore and regional operation of AIG, providing a broad P&C portfolio including accident, travel, marine and commercial lines. A larger global incumbent with broader product and geography than Great Eastern, but directly comparable on personal accident, travel and corporate casualty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/GreatEasternSG
• Facebookfacebook.com/greateasternsingapore
• LinkedInlinkedin.com/company/great-eastern-general-insurance-ltd
• Instagraminstagram.com/greateasternsg
• Xx.com/greateasternsg

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Eastern Singapore