BUZZ-Australian insurer Suncorp hits near 2-year low as half-year cash earnings plunge

Reuters
Feb 18
BUZZ-Australian insurer Suncorp hits near 2-year low as half-year cash earnings plunge

** Shares of Australian general insurer Suncorp SUN.AX fall as much as 5.3% to A$15.13, its lowest level since early March 2024

** Stock posts its biggest intraday pct fall since April 7, 2025

** Suncorp logs half-year cash earnings of A$270 million ($190.89 million), compared with A$828 million reported last year; results also missed Visible Alpha consensus estimates of A$311.2 million

** Suncorp clocks A$1.32 billion ($935 million) in HY natural hazard expenses, as compared to A$503 million recorded last year

** Co posts HY gross written premium (GWP) growth of 2.7% to A$7.69 billion, misses estimates of A$7.78 billion

** Insurer also lowered annual gross written premium (GWP) growth forecast

** Co declares interim dividend of 17 Au cents per share vs 41 Au cents apiece declared last year

** Stock has fallen 13.9% this year, including session moves

($1 = 1.4144 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))

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