SINGAPORE (July 11): Overseas Assurance Corporation (OAC), the general insurance arm of OCBC’s 87%-owned subsidiary Great Eastern Holdings, has been rebranded as Great Eastern General Insurance (GEG) in Singapore. 

In a press release on Tuesday, Great Eastern shared it targets for OAC’s operations in Malaysia to follow suit, with rebranding by end-August this year.

The rebranding exercise comes as part of the group’s strategy to strengthen its focus to further build its general insurance business into a significant pillar of growth, it added.

With that, Great Eastern’s Live Great Programme, a loyalty programme offering health and wellness privileges from 120 merchant partners across the region, has been extended to GEG customers.

Khor Hock Seng, CEO of Great Eastern Holdings, said the group intends to boost its digitalisation capabilities — starting with the enhancement of its Travel Smart Premier mobile app to facilitate the purchase of more products — as well as the submission of simple claims “in the near future”.

“With the consolidation of OAC into the Great Eastern brand, there will be greater brand unity across our business lines, which will enable us to fully leverage the strengths of our established brand to offer more compelling propositions,” Khor added.

“Moving forward, a strategic focus will be to leverage [on] the huge customer database and distribution capabilities of Great Eastern and OCBC Bank and draw on our collective strengths to tap into new growth opportunities, to serve individual and corporate customers.”

As of 10.37am, shares of OCBC were down by 1 Singaporean cent at S$10.79.