Suncorp Group Unveils Business Strategy for Fiscal Years 2025 to 2027

MT Newswires Live

Nov 06, 2024

Suncorp Group (ASX:SUN) unveiled its business strategy for the current fiscal year ending June 30, 2025, to fiscal year 2027, following the sale of Suncorp Bank and its New Zealand life insurance business, according to a Wednesday filing with the Australian bourse.

The insurer aims to focus on improving customer experience and risk-adjusted returns via its digital insurer platform, the filing said. It reaffirmed its fiscal 2025 underlying insurance trading ratio guidance towards the top of the 10% to 12% range.

The company expects to complete the sale of its New Zealand life insurance business around the end of January 2025, subject to the approval of the Reserve Bank of New Zealand.

Suncorp Group's shares were up almost 2% in recent Wednesday trade.

Price (AUD): $17.99, Change: $+0.26, Percent Change: +1.47%

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