Suncorp Group Limited (AU:SUN) has released an update.
Suncorp Group Limited reported a significant increase in their FY24 financial results with a net profit after tax (NPAT) of $1,197 million, up from the previous year’s $1,071 million. The company experienced a 13.9% growth in general insurance gross written premium and successfully completed the sale of Suncorp Bank to ANZ, with net proceeds expected to be returned to shareholders in early 2025. Despite challenges from inflation and natural hazards, the company maintained strong investment returns and a steady payout ratio for shareholders.
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