Singapore's Great Eastern Q2 net profit down 89 pct

* Q2 net profit: S$15.7 million ($11.42 million) vs S$143.4 mln in Q2 2007

* Outlook: Earnings to be hurt by turbulent financial markets

Great Eastern (GELA.SI), which is 87 percent held by Oversea-Chinese Banking Corp (OCBC.SI), is the largest life insurance firm in Singapore and Malaysia. The insurance business accounted for 25 percent of OCBC's operating profit in 2007.

(Reporting by Kevin Lim)