Suncorp FY27 Reinsurance Program Update and FY26 Outlook

• FY27 reinsurance program update reflects disciplined strategy
• FY27 reinsurance costs expected to be above FY26
• FY26 outlook: Underlying ITR towards upper end of 10-12%
• FY26 natural hazard costs expected to be $250 million above allowance
• Steve Johnston to return as CEO from July 6, 2026

Suncorp Group Limited provides an update on its FY27 reinsurance program, highlighting a disciplined strategy that balances cost, earnings volatility, and capital efficiency. The company has successfully placed its main catastrophe program for FY27, maintaining a maximum event retention of $350 million. Additionally, Suncorp has entered a 5-year aggregate reinsurance arrangement providing $800 million of protection annually. The FY26 outlook reaffirms underlying ITR towards the upper end of the 10-12% range, with GWP growth expected to be approximately 2.7%. Investment income is expected to be between $750 million and $800 million. Natural hazard experience is expected to be approximately $250 million above the FY26 allowance of $1,770 million. Steve Johnston is set to return as CEO from July 6, 2026.

FY26 underlying ITR towards upper end of 10-12%, GWP growth ~2.7%, investment income $750-800 million

Suncorp expects total reinsurance costs in FY27 to be above FY26, reflecting the inclusion of the aggregate reinsurance cover and exposure growth.