Suncorp Group has reported a net profit after tax of AU$1.027 billion and cash earnings of AU$1.042 billion for the year ended 30 June 2026. The group declared a fully franked final ordinary dividend of 52 cents per share, with CEO Steve Johnston noting that the result was achieved despite natural hazard expenses exceeding the firm’s AU$1.770 billion allowance by AU$254 million and the payment of more than AU$10 billion in claims.
Gross written premiums increased 2.7% in FY 2026 to AU$15.407 billion, up from AU$15.009 billion in FY 2025. The growth was driven by pricing momentum in Consumer, alongside expansion across the Commercial and Personal Injury portfolios.
In New Zealand, positive growth in the direct consumer AA insurance business was partially offset by softer commercial market conditions and a broader economic slowdown.
Suncorp’s underlying insurance trading result also strengthened, increasing to AU$1.636 billion in FY 2026 from AU$1.566 billion in FY 2025.
Consumer Insurance generated AU$8.491 billion in gross written premium in FY 2026, representing a 5.8% year-on-year increase. Its underlying insurance trading result improved to AU$763 million from AU$673 million in FY 2025, supported by rate increases across Home and Motor lines.
However, heavy weather activity and lower investment returns weighed on the division’s reported trading result, which fell 48.6%.
Commercial & Personal Injury Insurance recorded gross written premiums of AU$4.538 billion in FY 2026, up 4.5% from FY 2025. The segment’s underlying trading result rose to AU$451 million, while its reported trading result increased 26.5%. Performance was significantly supported by AU$177 million in prior-year reserve releases across commercial lines.
Suncorp New Zealand reported gross written premiums of NZ$2.756 billion in FY 2026, down 4.8%, as commercial rate softening and book exits more than offset 3.2% growth in direct consumer lines.
The division delivered an underlying trading result of NZ$471 million, while reported earnings fell 16.7% amid elevated natural hazard activity and weaker economic conditions.
Across the group, net investment returns fell to AU$553 billion in FY 2026, down from AU$766 billion in FY 2025.
Net incurred claims increased to AU$10.244 billion in FY 2026, compared with AU$9.251 billion in FY 2025. Suncorp said the increase reflected higher natural hazard experience, alongside persistent Australian claims inflation driven by construction and labour cost pressures.
Natural hazard expenses rose sharply to AU$2.024 billion in FY 2026, up from AU$1.355 billion in FY 2025 and AU$254 million above the group’s natural hazard allowance.
Suncorp responded to 18 separate weather events that each exceeded AU$10 million in severity, managing more than 120,000 natural hazard claims.
Looking ahead, Suncorp has increased its FY 2027 natural hazard allowance to AU$1.8 billion, excluding claims handling expenses and profit commission.
Its FY 2027 reinsurance structure, including aggregate protection, is designed to cap downside natural hazard experience to AU$50 million in 90% of modelled scenarios.
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