As of 31 July 2024, Suncorp completed the sale of its banking division to ANZ, marking a significant strategic shift to become a pure-play insurance company. Almost a year into this transformation, it's worth reviewing how the business is shaping up ahead of the next reporting season.Read more
Key Takeaways Elevated natural catastrophe risks and reliance on favorable trends could increase volatility and pressure margins if claims or event severity revert upward. Dependence on local markets and temporary profit boosts masks structural challenges, with digital initiatives potentially taking longer to deliver sustainable cost savings.Read more
Suncorp Group Limited provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand. The company operates through Consumer Insurance; Commercial and Personal Injury; and Suncorp New Zealand segments. It provides insurance products, including home and contents, motor, and boat insurance products; and commercial motor, commercial property, marine, industrial special risks, public liability and professional indemnity, workers’ compensation, and compulsory third party products. The company was formerly known as Suncorp-Metway Limited and changed its name to Suncorp Group Limited in December 2010. The company was founded in 1902 and is headquartered in Brisbane, Australia.
