• Suncorp dealt with nine declared natural hazard events, resulting in over 71,000 claims at a net cost of $1.3 billion
• Underlying insurance trading ratio remained in the top half of the target range at 11.7%
• Strong growth in the Consumer Insurance portfolio, with GWP up 6.3% and unit growth of 2% in Motor and 0.4% in Home

Suncorp Group reported its 1H26 financial results, which were impacted by an elevated level of natural hazard costs and lower investment returns. The company dealt with nine declared natural hazard events through the half, resulting in more than 71,000 claims at a net cost of around $1.3 billion. Despite this, the business continued to perform strongly, with solid growth in the Consumer Insurance portfolio and an underlying insurance trading ratio that remained in the top half of the target range at 11.7%. The value and quality of Suncorp's brands, products and services continued to support customer growth, particularly across the Consumer portfolio, which experienced Gross Written Premium growth of 6.3% and unit growth of 2% in Motor and 0.4% in Home. The balance sheet and capital position remained strong, and the Board determined to pay a fully franked interim ordinary dividend of 17 cents per share, representing 68% of cash earnings. Suncorp is making good progress on its strategic imperatives to modernise its platforms and transform its operations by leveraging artificial intelligence at scale. Looking ahead, GWP growth is expected to be around the bottom of the mid-single digits range, while the underlying ITR is expected to remain in the top half of the 10% to 12% range.

GWP growth is expected to be around the bottom of the mid-single digit range, given the current cycle in Commercial in Australia and New Zealand. Underlying ITR is expected to remain in the top half of the 10% to 12% range.

Suncorp remains focused on delivering a growing business with a sustainable return on equity expected to be above the through-the-cycle cost of equity. The company is committed to a disciplined approach to active capital management, with a payout ratio around the mid-point of the 60% - 80% range of cash earnings and an on-market share buy-back of up to $400 million targeted to be completed by the end of FY26.