Increase to $203m more than compensates for falls in company’s banking and personal injury divisions
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Suncorp has recorded a more than fivefold boost to its half-year profits derived from its insurance customers to $203m, even as households get squeezed by fast-rising premiums for home, contents and motor policies.
The Brisbane-headquartered company joins rival QBE in reporting greatly expanding profit margins derived from general insurance, a sector that is a standout contributor to recent inflation amid double-digit annual premium increases.
Continue reading…Increase to $203m more than compensates for falls in company’s banking and personal injury divisionsFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastSuncorp has recorded a more than fivefold boost to its half-year profits derived from its insurance customers to $203m, even as households get squeezed by fast-rising premiums for home, contents and motor policies.The Brisbane-headquartered company joins rival QBE in reporting greatly expanding profit margins derived from general insurance, a sector that is a standout contributor to recent inflation amid double-digit annual premium increases.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…