Suncorp Group Sees 3% Growth in Fiscal 2027 Gross Written Premium
MT Newswires Live06:24
Suncorp Group (ASX:SUN) said its fiscal 2027 gross written premium (GWP) growth is expected to be around 3%, citing the AU$125 million impact of the loss of a major commercial contract and the continued weakness in the New Zealand dollar, according to a Thursday filing with the Australian bourse.
In its fiscal 2026 results announcement, the company forecasted fiscal 2027 GWP growth of 3% to 5%.
The contract's full impact will materialize in the first half, with GWP growth consequently weighted towards the second half.
The company said all the other fiscal 2027 outlook assumptions remain unchanged, with the underlying insurance trading ratio margin projected to stay in the upper half of the 10% to 12% range.
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