Half-year Gross written premium Aus and NZ ($m) 5003.0 , up 2.8%
Pre-tax profit ($m) 541.0 , down -5.1%
Net profit ($m) 642.0 , up 156.8%
Final dividend (c) 26.0 , flat 0.0%
Date dividend payable March 31
Suncorp has decided not to return a windfall of nearly $300 million from the sale of two subsidiaries to shareholders, opting instead to hold the cash as leverage as it negotiates new reinsurance contracts.
The decision comes at the end of an unprecedented summer of fires and hailstorms, raising the prospect that international reinsurers may increase the cost of protection in line with a perceived increase in the risk.
