Reinsurance News
Suncorp
Suncorp’s exec leadership changes to set insurer for next phase of strategy
13th August 2026
Australian insurer Suncorp Group has announced a number of changes to its executive leadership team, including the appointment of Bridget Messer as Chief Executive Customer, Brand and Digital, a newly created role. Currently serving as Chief Risk Officer, Messer’s new position unites the existing brand, marketing, and digital distribution teams. The role ... Read the full article
Suncorp reports FY’26 net profit of AU$1.03bn despite exceeding natural hazard allowance
12th August 2026
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 ... Read the full article
Suncorp lifts main cat reinsurance cover for FY27
3rd July 2026
Australian insurer Suncorp has completed its core 2027 reinsurance renewal, securing catastrophe cover for losses between $500 million and $6.4 billion, alongside its previously announced 5-year aggregate reinsurance arrangement, which provides $800 million of protection annually, and up to $2.4 billion in total over the period. Despite continued catastrophe reinsurance ... Read the full article
Suncorp buys AUD 2.4bn five-year aggregate reinsurance cover
24th April 2026
Australian insurer Suncorp has secured an additional five-year aggregate reinsurance cover that will provide AUD 800 million of protection annually, and up to AUD 2.4 billion of total protection over the period beginning June 30, 2026. The attachment point for the aggregate cover is indexed to Suncorp’s growth in exposure over ... Read the full article
Suncorp weighs additional reinsurance protection amid favourable conditions
18th February 2026
With natural hazard costs rising sharply to AU$1.319 billion in H1 2026, Suncorp executives have indicated the group may revisit its use of additional protections, including the potential purchase of a new aggregate reinsurance treaty, amid increasingly favourable conditions in the softening reinsurance market. Alongside the group’s H1 2026 results ... Read the full article
Suncorp maintains strong capital position despite higher H1’26 natural hazard costs
18th February 2026
Despite natural hazard costs rising sharply to AU$1.319 billion in H1 2026, from AU$503 million a year earlier, Suncorp said its underlying business “remains resilient”, and its capital position continues to be strong. “While Suncorp’s H126 reported profits and shareholder returns have been challenged by an elevated level of natural hazard ... Read the full article
Suncorp’s H1’26 natural hazard costs exceed budget at AUD 1.319bn
12th January 2026
Australian insurer Suncorp has disclosed that its total cost of natural hazard events for the first half of 2026 (H1’26) is expected to be AU$1.319 billion, far above the budget of AU$866 million, eroding most of its full-year 2026 (FY’26) allowance of AU$1.77 billion, meaning the carrier will make reinsurance ... Read the full article
Queensland and NSW storms push Suncorp to maximum reinsurance retention
27th November 2025
Australian insurer Suncorp expects the recent supercell thunderstorms that brought large hail and destructive winds to South East Queensland and northern New South Wales to hit its full reinsurance retention of $350 million, with the storms prompting more than 10,000 claims as of 26th November 2025. Of the total claims, approximately ... Read the full article
Severe Queensland and Victoria storms trigger 5,500 claims for Suncorp
31st October 2025
The insurance company Suncorp has received just over 5,500 claims, around 5,000 in Queensland and 500 in Victoria, with the net cost of the event expected to fall between $220 million and $260 million, with these estimates remaining preliminary, and final figures to be confirmed as part of the first ... Read the full article
Suncorp reports $1.8bn profit in FY2025
14th August 2025
Australian insurer Suncorp Group has revealed that net profit after tax (NPAT) for FY2025 was $1.823 billion, up from $1.197 billion in 2024, while cash earnings increased to $1.486 billion from $1.372 billion. According to the firm, FY2025 NPAT included $252 million from the one-off gain on sale of Suncorp Bank ... Read the full article
Suncorp shrinks main cat cover at renewal and adds multi-year solution
1st July 2025
Australian insurer Suncorp has completed its 2026 reinsurance renewal, securing main catastrophe cover for losses between $500 million and $6.3 billion, and has added a structured, multi-year solution that reduces exposure to $350 million for a first and second event, with the cost of the programme expected to come down ... Read the full article
Natural hazard costs erode ~72% of Suncorp’s FY allowance
8th May 2025
In a new market update, Australian insurer Suncorp has disclosed that it incurred natural hazard costs of AUD 1.115 billion in the 10 months to April 30th, 2025, which has eroded almost 72% of the carrier's AUD 1.560 billion full year natural hazard allowance. Suncorp explained that there have been 15 ... Read the full article
Insurers receive over 22,000 claims following ex-Tropical Cyclone Alfred: ICA
11th March 2025
The Insurance Council of Australia (ICA) has revealed that insurers have received more than 22,000 insurance claims from policyholders across southeast Queensland and northern New South Wales following ex-Tropical Cyclone Alfred. Of the total claims lodged, 20,460 are in Home, 1,182 are for Motor, and 758 are for Commercial. The ICA observed ... Read the full article
Suncorp posts H1’25 net profit as natural hazard costs stay within budget
12th February 2025
Australian insurer Suncorp has reported net profit after tax of A$1.1 billion for H1 of its 2025 financial year, while gross written premium in its General Insurance business increased by 8.9% compared to the same period in the prior year. According to Suncorp, this net profit result includes a one-off gain ... Read the full article
Suncorp completes sale of Asteron Life to Resolution Life
3rd February 2025
Suncorp Group Limited, an Australian primary insurer, has completed the sale of Asteron Life Limited, its New Zealand life insurance business, to Resolution Life NOHC on 31 January 2025. This sale was first announced in April 2024, after Suncorp signed a share sale and purchase agreement with Resolution Life to ... Read the full article
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