Posts Tagged ‘GLC’
Most GreatLink investors take up offer
August 29th, 2009 | 
Author: AN OFFER by Great Eastern (GE) Life to 18,000 investors to buy back its GreatLink Choice (GLC) product ends at 6pm today.
Already, GE Life figures indicate that almost all investors with the most risky GLC tranches are accepting the deal.
Those who say yes to the offer will get a sum equal to their original investment, less total payouts received.
The single-premium product was sold in five tranch… more
Posted in Singapore Financial News | 
Tags: Choice, deal, Eastern, ge life, GLC, Great, GreatLink, Investment, investors, life, offer, premium product, product, sum, today, tranch, tranches | 
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Figures add up nicely for GE Life
GREAT Eastern Life Insurance looks to be everyone’s pick for the most generous company of the year.
The company wants to help its policyholders by buying back their GreatLink Choice (GLC) structured notes. These are similar to minibonds but there are more of them. Minibonds worth $508 million were sold to 10,000 investors, while $594 million worth of GLC notes were sold to 18,000 investors.
If the… more
Posted in Singapore Financial News |
Tags: Choice, company, Eastern, everyone, generous company, GLC, Great, great eastern life, great eastern life insurance, GreatLink, insurance, investors, life, Minibonds, pick, policyholders, structured notes, worth, year |
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Friday is D-Day for GE investors
Decision-Day looms for the 18,000 investors in the Great Eastern (GE) Life product GreatLink Choice, (GLC) with the firm’s take-the-money-and-run offer expiring on Friday.
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GLC AT A GLANCE
At first glance, it looks like a no-brainer. Accept the offer and walk away … more
GE Life agents to return commissions
ABOUT 1,000 Great Eastern Life agents have been asked to return up to $12.6 million in commissions received from policies they sold up to four years ago.
The GreatLink Choice (GLC) policies are investments the insurer decided last Friday to buy back at full cost.
About 18,000 policyholders invested a total of $594 million in the policies, buying from the insurer’s network of agents.
Agents e… more
Posted in Singapore Financial News |
Tags: 6 million, ABOUT, Choice, commissions, cost, Eastern Life, Friday, GLC, Great, great eastern life, GreatLink, insurer, investments, last friday, life agents, network, policyholders, total |
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Time for goodwill hunting
Disgruntled investors who lost large sums of money in the structured notes debacle are questioning why they cannot be extended the kind of ‘goodwill’ which was given to investors of GreatLink Choice (GLC) investment-linked insurance products.
Many are also hoping that the proactive stance taken by insurer Great Eastern Life, which sold the GLC products, would lead to similar compensation from fina… more
Posted in Singapore Financial News |
Tags: cannot, Choice, compensation, debacle, Disgruntled, Eastern Life, fina, GLC, goodwill, Great, great eastern life, GreatLink, insurance, insurance products, insurer, investment linked insurance, investors, kind, money, proactive stance, STANCE, structured notes, sums of money |
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GE investors laud compensation offer
Teacher Sekaran C.’s jaw dropped when he learnt that he would be fully compensated for the $75,000 investment he made in a Great Eastern Life product four years ago.
He is one of about 18,000 Great Eastern Life customers who had bought GreatLink Choice (GLC), a series of investment-linked insurance products which were sold in five tranches between 2005 and 2007.
He will be getting about $65,000 af… more
Posted in Singapore Financial News |
Tags: Choice, Eastern Life, GLC, Great, great eastern life, GreatLink, insurance, insurance products, Investment, investment linked insurance, jaw, learnt, product, Sekaran, series, Teacher, tranches |
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