Sydney, Feb 24, 2026, 17:51 (AEDT) — Market closed.
Suncorp Group Limited SUN.AX ended Tuesday down 0.9% at A$14.67, having dropped to A$14.21 earlier in the session—the lowest the stock has traded over the past year—in what was largely an unchanged day for Australian markets.
Suncorp shares remain under pressure after last week’s update. The insurer trimmed its premium-growth forecast and warned about a jump in storm-related claims alongside softer investment returns. Suncorp also set its interim dividend at 17 Australian cents per share, a decrease from the previous year.
Suncorp picked up 602,795 shares in a buyback on Monday, shelling out about A$9.0 million at prices from A$14.76 to A$15.41, according to a Tuesday filing. So far, the group has repurchased just over 10.0 million shares, spending approximately A$191.2 million in total, the document said.
The S&P/ASX 200 in Australia slipped 0.04% to close at 9,022.3.
Insurance Australia Group slipped 3.1% to A$6.75 in late trade. Shares of other insurers lost ground as well.
Investors watch the buyback closely—it’s a rare lever you can actually follow in real time. It signals not just consistent buying pressure for the stock, but also reveals just how willing the company is to put money to work at current price levels. With on-market buybacks, shares get purchased directly through the exchange and then retired, cutting down the total share count.
Still, the buyback won’t cushion the blow. A new round of harsh weather or a spike in repair bills could easily drive up claims and put earnings forecasts back under pressure.
Suncorp’s near-term cues are pretty cut-and-dried: daily buyback updates ahead of the open, plus watching if shares can find their footing after sliding close to the bottom of their annual band.
Suncorp CEO Steve Johnston said the group is still aiming for roughly $400 million in buybacks by FY26’s close. For FY26, the natural hazard allowance is locked in at A$1.77 billion, and retention for the next major Australian event sits at A$260 million. The interim dividend lands on March 31.
