Printed from BusinessInsurance.com

Suncorp's earnings jump 63%, aided by reserve release

Posted On: Feb. 9, 2023 9:52 AM CST

P/C insurers

Australia-based insurer Suncorp Group Ltd.'s earnings increased 62.9% year-on-year to $588 million Australia ($407 million) in the six months ended December 2022, supported by strong underlying margins and investment returns, Reuters reported. The insurer reported strong top-line growth and the release of a AUD150 million reserve provision for potential business interruption claims also improved its performance.