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Suncorp posts FY’26 profit as natural hazard costs top allowance
The insurer reported net profit after tax of AU$1.027 billion for the year ended June 30, 2026, after natural hazard expenses exceeded its AU$1.770 billion allowance by AU$254 million.
Suncorp Group reported net profit after tax of AU$1.027 billion and cash earnings of AU$1.042 billion for the year ended 30 June 2026, while also declaring a fully franked final ordinary dividend of 52 cents per share.
Reinsurance News said CEO Steve Johnston attributed the result to performance despite natural hazard expenses exceeding Suncorp’s AU$1.770 billion allowance by AU$254 million, alongside the payment of more than AU$10 billion in claims.
The company reported gross written premiums rose 2.7% in FY 2026 to AU$15.407 billion, driven by pricing momentum in Consumer and expansion across Commercial and Personal Injury portfolios. Underlying insurance trading result increased to AU$1.636 billion from AU$1.566 billion.
Suncorp also said net investment returns fell to AU$553 million from AU$766 million, and net incurred claims increased to AU$10.244 billion from AU$9.251 billion, reflecting higher natural hazard experience and persistent Australian claims inflation tied to construction and labor costs, according to Reinsurance News.