Suncorp Group Ltd
SUN: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$78.60 | Dzkc | Grbdnpm |
Suncorp Earnings: Good Performance, but Tailwinds Can Quickly Become Headwinds
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.