Suncorp's net profit jumps 89% in H1 2025

EPS was A$86.56.

Suncorp Group’s net profit for the first half of 2024 (FY 2025) surged 89% year-on-year (YoY) to $693m (A$1.1b).

The result includes a $158.76m (A$252m) one-off gain from the sale of Suncorp Bank, which was completed on 31 July  2024. 

The period’s earnings per share (EPS) stood at $54.54 (A$86.56), higher than the $28.94 (A$45.94) the previous year.

Other contributing factors include favourable natural hazard conditions, positive investment returns, and the absence of prior-year reserve strengthening.

The general insurance trading ratio was 11.8%, whilst gross written premium grew by 8.9%, both in line with guidance.

General Insurance gross written premium increased by 8.9%, reflecting unit growth and price adjustments due to claims inflation and higher hazard allowances. 

Operating expenses in General Insurance rose by 7.4% to $538.65m (A$855m) due to increased project spending and investments in growth initiatives. Insurance expense ratios declined as efficiency measures were implemented.

($1.00 = A$1.58)