Suncorp posts $1.03B FY26 profit, $250M buyback
Full story: https://grafa.com/en/news/australia/suncorp-posts-1-03b-fy26-profit-250m-buyback
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Suncorp reported a net profit after tax of $1.03 billion for FY26 alongside a planned $250 million share buyback.
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Following the earnings release, the Suncorp Group share price moved slightly lower on the local market.
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The company stated that disciplined capital management and underlying margin growth drove the financial result.
Suncorp Group (ASX:SUN) reported a net profit after tax of $1.03 billion alongside cash earnings of $1.04 billion for the 2026 financial year.
The profit figure is compared to the net profit after tax of $1.82 billion recorded in the prior corresponding period.
Suncorp CEO Steve Johnston said the result was achieved during a year when the group exceeded its $1.77 billion natural hazard allowance by $254 million and paid out more than $10 billion in claims.
"Going forward, Suncorp will have significant financial protection from a multi-year aggregate reinsurance cover which came into effect on June 30," Johnston added.
Gross written premium for the year reached $15.41 billion, while net investment returns stood at $554 million, down from $766 million a year earlier. Net incurred claims reached $10.24 billion, higher than the $9.25 billion recorded in the prior year.
The business declared a final ordinary dividend of 52 cents per share and a special dividend of 10 cents per share while planning an on-market share buy-back of up to $250 million.
Following the announcement, the Suncorp Group share price was down at $18.56.
The insurer operates as a general insurance provider across Australia and New Zealand following the completed divestment of its banking division.
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