0033 GMT - Suncorp and IAG may see margins expand into FY 2025 as a result of premium growth, say Morgan Stanley analysts in a note. This is because price increases take almost a year to earn, while inflation and reinsurance costs are slowing, MS says. The bank's March new business survey shows premium growth is robust but slowing. Motor insurance, up 21% year-over-year in March and home insurance, up 18% are at a lower growth when compared with December 2023, the investment bank says. MS reckons that the around 20% price increases in its March survey may not translate into gross written premium growth at the same levels given customers' inclination to save or shop around for better deals. (alice.uribe@wsj.com)
(END) Dow Jones Newswires
April 08, 2024 20:33 ET (00:33 GMT)
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