Suncorp Group Ltd

SUN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$16.80	Tvqg	Qmtyqxj

Suncorp Earnings: Good Performance, but Tailwinds Can Quickly Become Headwinds

Nathan Zaia

Aug 19, 2024

Suncorp’s fiscal 2024 cash profit increased 17% to AUD 1.37 billion, 4.5% ahead of our forecast. Premium rate increases drove 14% growth in gross written premiums with the claims ratio steady, insurance operating expense ratio slightly improved, and investment income on shareholder and policyholder funds up 67% to AUD 973 million.

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