Brisbane, June 25, 2026, 07:08 (AEST)
- Suncorp slipped 0.3% to finish at A$18.93 on Wednesday.
- Suncorp Group posted a Section 259C(2) shareholding disclosure as its latest company notice.
- Suncorp’s five-year reinsurance kicks in from June 30. Hazard costs for FY26 are forecast A$250 million over allowance. Insurance trading ratio is still strong.
Suncorp Group shares ended down 0.3% at A$18.93 Wednesday. The insurer posted a Corporations Act disclosure on holdings in controlled entities, according to its latest ASX filing.
ASX cash market was still closed at the dateline, with trading set to start around 10 a.m. as usual on June 25. Wednesday, Suncorp changed hands in a range of A$18.83 to A$19.15.
The Section 259C(2) notice put the number of ordinary shares on issue at 1,060,051,406. No positions in controlled entities, and no net economic exposure, as of June 19. The filing didn’t include any earnings forecast, and had no operating update.
S&P/ASX 200 ended Wednesday up 0.24% at 8,808.40. Insurance Australia Group dropped 5.0%. QBE Insurance added 0.7%.
Suncorp’s latest reinsurance deal kicks in on June 30, with A$800 million in annual protection and a five-year cap of A$2.4 billion. Insurers use reinsurance to offset big hits from claims. This aggregate cover pays out after natural-hazard losses reach A$1.85 billion in fiscal 2027.
Suncorp left its FY26 underlying insurance trading ratio forecast steady at the high end of its 10% to 12% range. That ratio is insurance profit as a share of premium revenue. “The underlying margin outlook remains unchanged at the upper end of our target range,” Jeremy Robson, who was acting chief executive, said in April. Suncorp continues to see around 3% growth for gross written premium, its main measure before reinsurance.
Suncorp posted a net profit after tax of A$263 million at its February half-year, dropping from A$1.1 billion. Natural-hazard costs jumped to A$1.319 billion, up from A$503 million. CEO Steve Johnston said there were nine declared events, which led to “more than 71,000 claims at a net cost of around $1.3 billion.” Reuters
Suncorp’s new cover hasn’t changed losses booked so far in FY26. The company still expects natural hazard costs to come in roughly A$250 million above its allowance, if there are no more big events. One more major event before June 30 would push the overrun higher. A soft New Zealand dollar could also weigh on premium growth.
