Suncorp Boosts Capital Returns on Strong FY26 Earnings Amid Heavy Hazard Costs

The latest announcement is out from Suncorp Group ( (AU:SUN) ).

Suncorp Group reported FY26 net profit after tax of $1.027 billion and cash earnings of $1.042 billion, with underlying earnings up 4.5% and its underlying insurance trading ratio remaining near the top of its 10%–12% target range. The insurer lifted gross written premium by 2.7% to $15.4 billion, improved its total expense ratio to 18.1% through disciplined cost management, and maintained strong capital settings with CET1 $518 million above the mid-point of its target range.

Despite exceeding its $1.77 billion natural hazard allowance by $254 million and paying out more than $10 billion in claims across 32 weather events, Suncorp is returning capital via fully franked ordinary dividends totaling 69 cents per share and a special dividend, alongside a planned on-market share buy-back of up to $250 million in FY27. The group has secured multi-year aggregate reinsurance cover to materially reduce natural hazard risk and earnings volatility, and expects continued GWP growth of 3%–5% and an underlying insurance trading ratio in the top half of its target range, underscoring its strategy to deliver sustainable returns and enhanced resilience for shareholders and customers.