Aug 9 (Reuters) - Suncorp Group Ltd (SUN) :
- FY CASH EARNINGS A$1,254 MILLION VERSUS A$673 MILLION REPORTED YEAR AGO
- THE OPERATING ENVIRONMENT REMAINS CHALLENGING
- GLOBAL REINSURANCE MARKETS REMAIN STRUCTURALLY DISRUPTED
- OVER MEDIUM-TERM , EXPECTS ONGOING MARGIN IMPROVEMENT AS HIGHER RENEWAL PREMIUM RATES ARE EARNED THROUGH FOR INSURANCE BUSINESS
- GROSS WRITTEN PREMIUM ACROSS AUSTRALIA AND NEW ZEALAND UP 10.8% FOR FY23
- CONFIRMED COMMITMENT TO SUPPORTING ANZ IN REFERRAL OF THE DECISION TO TRIBUNAL REGARDING ACCC DECISION
- SYSTEM GROWTH EXPECTED TO SLOW FOR BANK BUSINESS
- EXPECTS SEPARATION AND OTHER COSTS TO INCREASE FROM A$500 MILLION TO BETWEEN A$575 MILLION TO A$600 MILLION FROM BANK SALE
- MAINTAINS ITS COMMITMENT TO A 60% TO 80% DIVIDEND PAYOUT RATIO
- ANNOUNCED CHANGES TO ITS OPERATING MODEL
- THERE IS NO CHANGE TO SUNCORP BANK.
- SUNCORP WILL BE ORGANISED AROUND THREE CORE INSURANCE FUNCTIONS: CONSUMER, COMMERCIAL & PERSONAL INJURY AND NEW ZEALAND
- NO CHANGE TO SUNCORP BANK
- OVER MEDIUM-TERM GROUP EXPECTS ONGOING MARGIN IMPROVEMENT AS HIGHER RENEWAL PREMIUM RATES ARE EARNED THROUGH
- BANK SALE NOW EXPECTED BY THE MIDDLE OF THE 2024 CALENDAR YEAR
Aug 9 (Reuters) - Suncorp Group Ltd (SUN) : FY CASH EARNINGS...
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