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Suncorp Group Limited (ASX:SUN)

ALERT: Price-sensitive ASX Announcement for SUN
Current share price for SUN : $18.130 -1.22 (-6.30%)+
Announcement
Release
3 Jul 2026 8:44AM
Price at Release
$19.350
Full Release
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Summary
Suncorp Group Limited provided an update on its FY27 reinsurance program and FY26 financial outlook. For FY27, the company has successfully renewed its reinsurance program with a focus on optimizing returns while ensuring protection for customers and shareholders. The main catastrophe program covers losses between $500 million and $6.4 billion, and includes a multi-year reinsurance arrangement for losses between $350 million and $500 million. Suncorp has also introduced a 5-year aggregate reinsurance cover providing $800 million of protection annually. The FY26 outlook includes expectations for an increase in reinsurance costs due to the aggregate cover and exposure growth, with total investment income projected between $750 million to $800 million. Natural hazard costs for FY26 are estimated to exceed the allowance by approximately $250 million due to multiple significant events.
Key Points
  • FY27 reinsurance program focuses on cost, earnings volatility, and capital efficiency.
  • Main catastrophe program covers losses between $500 million and $6.4 billion.
  • 5-year aggregate reinsurance cover provides $800 million protection annually.
  • FY26 outlook expects reinsurance costs above FY26 due to aggregate cover.
  • Total investment income for FY26 projected between $750 million to $800 million.
  • Natural hazard costs in FY26 expected to be $250 million above allowance.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.