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Suncorp net profit rises to $823.3 million

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Australian insurer Suncorp Group Ltd. posted net profit of 1.13 billion Australian dollars ($823 million) in the year ended June 30, 2015, reports Stuff.co.nz.

Suncorp attributed the growth to the "strong performance" delivered by its New Zealand business. Better weather drove profits at Suncorp’s New Zealand-based subsidiaries AA Insurance Ltd. and Vero New Zealand, by 64% year-on-year.

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