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Great Eastern Life

87Score

★★★★☆4.2

Customer satisfaction · 3.8M members

Fitch: AA(2025)S&P: AA-(2025)Seedly: #1 Market Share in Singapore(2026)

Great Eastern Life is the largest and oldest life insurer in Singapore with approximately 25.5% market share. Backed by OCBC Bank, its GREAT SupremeHealth IP offers unique 365-day pre-hospitalization coverage for chronic conditions and holds Fitch AA / S&P AA- ratings.

Overall Score

87/100

Founded

1908

Headquarters

Singapore

Type

private

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Key Metrics

Ip Plan

GREAT SupremeHealth

Market Share

~25.5%

Pre Hospitalization

365 days for chronic conditions

Parent Bank

OCBC Bank

Editorial Ratings

Fitch: AA(2025)

Rating: AA (max: AAA)

90Fitch

S&P: AA-(2025)

Rating: AA- (max: AAA)

85S&P

Seedly: #1 Market Share in Singapore(2026)

Rating: #1 by market share (max: #1)

86Seedly

Coverage Highlights

✓GREAT SupremeHealth IP — 365-day pre-hospitalization for chronic conditions
✓Largest life insurer in Singapore by gross written premiums
✓Backed by OCBC Bank for strong financial stability
✓Extensive agent network of approximately 5,000 in Singapore
✓Oldest life insurer in Singapore and Malaysia (since 1908)

Pros

✓Largest and oldest insurer — strong market trust
✓Highest financial strength ratings in the region
✓Unique 365-day pre-hospitalization benefit
✓Strong OCBC bancassurance distribution

Cons

✗IP premiums above market average
✗Claims processing slower than AIA
✗Digital platform less advanced than newer competitors

Frequently Asked Questions

Why is Great Eastern the largest insurer in Singapore?

Great Eastern has been operating since 1908 and commands approximately 25.5% of Singapore's life insurance market. Backed by OCBC Bank, it has the largest agent network and broadest distribution.

What is the GREAT SupremeHealth plan?

GREAT SupremeHealth is Great Eastern's Integrated Shield Plan offering unique 365-day pre-hospitalization coverage for chronic conditions, plus comprehensive private hospital benefits.

What are Great Eastern's financial strength ratings?

Great Eastern holds a Fitch AA and S&P AA- financial strength rating, among the highest of any insurer in the Asia-Pacific region.

Can I pay Great Eastern IP premiums with MediSave?

Yes. MediSave can be used to pay for GREAT SupremeHealth premiums subject to CPF withdrawal limits set by the Ministry of Health.

Quick Summary

InsurerGreat Eastern Life

Country🇸🇬 Singapore

Overall Score87/100

Satisfaction4.2/5

Members3.8M

Typeprivate

Founded1908

Other Insurers in Singapore

AIA Singapore

private

89.2

/ 100

Prudential Singapore

private

87.5

/ 100

Income Insurance (NTUC Income)

hybrid

82.7

/ 100

HSBC Life Singapore

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82.5

/ 100

Singlife (with Aviva)

private

72.5

/ 100

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