By Digifin Pty Ltd · About this coverage
Key Points
- FY27 GWP growth expected to be around 3%, weighted to the second half
- Loss of a single large commercial contract has an FY27 GWP impact of $125 million
- Weaker New Zealand dollar expected to reduce growth by approximately 70 basis points
- UITR margin expected to remain in the top half of the 10-12% range
- FY27 buyback of $250m underway
About Suncorp (ASX:SUN)
Suncorp Group Limited is an ASX-listed general insurance company headquartered in Brisbane. It provides home, motor, commercial and personal injury insurance in Australia and New Zealand through brands including AAMI, GIO, Apia, Shannons, Suncorp Insurance and Vero.
Suncorp (ASX:SUN) used its 2026 Investor Update to update its FY27 outlook for GWP growth, which has been affected by the loss of a single large commercial contract and ongoing weakness in the New Zealand dollar.
FY27 GWP growth is now expected to be around 3%, assuming an average FY27 FX rate of AUD 0.81 per NZD. The lost commercial contract has an FY27 GWP impact of $125 million, and the weaker New Zealand dollar is expected to reduce growth by approximately 70 basis points in Australian dollar terms. The full impact of the contract will be reflected in the first half, so full year GWP growth is expected to be weighted to the second half. Suncorp says there is no other change to the FY27 outlook previously provided, and the UITR margin is expected to remain in the top half of the 10-12% range. The investor scorecard also shows a total expenses ratio broadly in line with FY26, Personal Injury prior year reserve releases expected to ~0.4% of Group net insurance revenue, restructuring costs expected to be ~$30m, and an FY27 buyback of $250m underway.
The release does not state the GWP growth figure in the outlook it replaces, and it does not name the commercial contract or the customer.
Source: Suncorp Group Limited (ASX:SUN), 29 October 2026. Summary content supplied by Digifin Pty Ltd.
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