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Suncorp Group Limited ( (AU:SUN) ) has shared an announcement.
Suncorp Group Limited reported a significant increase in its Net Profit After Tax (NPAT) to $1,100 million, driven by a one-off gain from the sale of Suncorp Bank. The company is returning $4.1 billion from the bank sale to shareholders and has declared a fully franked interim dividend. Suncorp’s results were bolstered by favorable natural hazard conditions and strong investment returns, while its general insurance business saw growth in gross written premiums. The company plans to continue its strategic initiatives, focusing on customer service improvements and potential capital management activities.
More about Suncorp Group Limited
Suncorp Group Limited is a financial services company primarily focused on general insurance. The company operates in the insurance industry, providing products like consumer insurance, commercial insurance, and personal injury insurance. Suncorp has a significant market presence in Australia and New Zealand and has recently repositioned itself as a pure-play general insurance company after divesting its banking and life insurance operations.
YTD Price Performance: 4.41%
Average Trading Volume: 6,493
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $16.13B
See more data about SUN stock on TipRanks’ Stock Analysis page.
