Suncorp Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/suncorp/ Thu, 27 Nov 2025 04:36:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Suncorp on the hook for US$230m from Queensland hail https://insuranceasianews.com/suncorp-on-the-hook-for-us230m-from-queensland-hail/ Thu, 27 Nov 2025 04:36:48 +0000 https://insuranceasianews.com/?p=205500 Insurer has received just over 10,000 claims, with approximately 5,000 in home and 5,000 in motor.

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Suncorp's net cost for the supercell thunderstorms that brought severe hailstorms to southeast Queensland over the past few days is expected to be AU$350 million (US$228.5 million), having reached the...

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]]> Southeast Queensland hailstorm claims top 10,000 as clean up continues https://insuranceasianews.com/southeast-queensland-hailstorm-claims-top-10000-as-clean-up-continues/ Thu, 30 Oct 2025 06:47:24 +0000 https://insuranceasianews.com/?p=203163 IAG and Suncorp are dealing with claims and significant costs after the event struck the Brisbane region on Sunday.

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Australian insurers IAG and Suncorp have fielded over 10,000 claims as residents and businesses across Southeast Queensland and beyond continue to count the cost of the hailstorm that brought widespre...

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]]> ICA declares ‘significant event’ in Queensland after severe hailstorms https://insuranceasianews.com/ica-declares-significant-event-in-queensland-after-severe-hailstorms/ Tue, 28 Oct 2025 06:34:20 +0000 https://insuranceasianews.com/?p=203019 The hailstorms in the greater Brisbane region on Sunday have led to over 11,000 claims so far, the industry lobby said.

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The Insurance Council of Australia (ICA) has declared the hailstorm in Queensland on Sunday to be a significant event for the industry, triggering its preliminary catastrophe processes.
In an update o...

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]]> Australian insurers face wave of claims after severe thunderstorms https://insuranceasianews.com/australian-insurers-face-wave-of-claims-after-severe-thunderstorms/ Mon, 27 Oct 2025 09:04:27 +0000 https://insuranceasianews.com/?p=202941 Suncorp said it has received thousands of claims from Queensland and Victoria following violent thunderstorms on Sunday.

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Australia’s insurers are facing a wave of claims following the second bout of extreme weather in the space of a week in Victoria and Queensland, including a suspected tornado in Melbourne’s western su...

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]]> Suncorp underwriting result soars 54% to top US$1bn in FY25 https://insuranceasianews.com/suncorp-underwriting-result-soars-54-to-top-us1bn-in-fy25/ Thu, 14 Aug 2025 03:25:50 +0000 https://insuranceasianews.com/?p=197521 Australian insurer's profit after tax was up 53% to US$1.2bn, boosted by asset sales and a 'favourable' natural hazard experience.

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Suncorp Group, the Australian insurer, grew its underwriting results by 54.2% in financial year 2025 to AU$1.54 billion (US$1 billion), while its GWP for the period grew 6.3% to AU$15 billion, up from...

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]]> Suncorp trims reinsurance tower even as rates soften, locks in multi-year deal https://insuranceasianews.com/suncorp-trims-reinsurance-tower-even-as-rates-soften-locks-in-multi-year-deal/ Tue, 01 Jul 2025 06:49:33 +0000 https://insuranceasianews.com/?p=194162 Despite exposure growth in its portfolio, Australian insurer expects the total cost of the program to be lower than in FY25, aided by reduced pricing, minor structural changes.

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Australian insurer Suncorp Group has secured a leaner and more cost-effective catastrophe reinsurance program for FY2026, trimming its tower size to AU$6.3 billion (US$4.15 billion) from AU$6.75 billi...

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]]> Ex-Tropical Cyclone Tam 15th event to top AU$10m for Suncorp https://insuranceasianews.com/ex-tropical-cyclone-tam-15th-event-to-top-au10m-for-suncorp/ Thu, 08 May 2025 04:46:51 +0000 https://insuranceasianews.com/?p=189988 The 15 events and other attritional natural hazard costs have meant natural hazard costs for the 10 months to April 30 are expected to be AU$1.1bn,

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Ex-Tropical Cyclone Tam in New Zealand was the 15th event in the last 10 months to top AU$10 million (US$6.4 million) in insured losses for the Australian insurer Suncorp, it said in a stock market up...

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]]> Cyclone Alfred claims ‘spike’ to over 22,000 as clean-up begins https://insuranceasianews.com/cyclone-alfred-claims-spike-to-over-22000-as-clean-up-begins/ Tue, 11 Mar 2025 05:12:23 +0000 https://insuranceasianews.com/?p=178182 Majority from Queensland, according to the Insurance Council of Australia, with claims from New South Wales set to increase in coming days.

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Insurers have received more than 22,000 claims across southeast Queensland and northern New South Wales following ex-Tropical Cyclone Alfred, according to the Insurance Council of Australia (ICA).
Whi...

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]]> Suncorp to settle class action suit over add-on sales https://insuranceasianews.com/suncorp-to-settle-class-action-suit-over-add-on-sales/ Sat, 01 Mar 2025 02:22:09 +0000 https://insuranceasianews.com/?p=177546 Settlement must be approved by the Supreme Court of Victoria, but no date has been set for the hearing,

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Suncorp announced on Friday that it agreed to settle a class action lawsuit concerning the sale of add on insurance through MTA Insurance, the insurer said in a statement.
The representative proceedin...

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]]> Suncorp’s H1 FY25 insurance service result up 134% at US$582m https://insuranceasianews.com/suncorps-h1-fy25-insurance-result-up-134-at-uss582m/ Wed, 12 Feb 2025 06:00:34 +0000 https://insuranceasianews.com/?p=175977 Australian insurer's general underwriting performance helped by favourable natural hazard experience and reserve releases.

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Suncorp reported GWP of AU$7.5 billion (US$4.7 billion) for the first half of the financial year (H1 FY25), up 8.9% compared with AU$6.9 billion reported in H1 FY24.
The company's general insurance se...

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