ASX - Delayed Quote AUD

Suncorp Group Limited (SUN.AX)

16.12

-0.08

(-0.49%)

At close: April 26 at 4:10 PM GMT+10

Australia's Suncorp to sell NZ life insurance business for $246 million, shares rise

Shares of Suncorp, which had gained a little more than 18% this year by last close, rose as much as 1.6% to A$16.615 as of 0033 GMT, hitting their highest since December 2007, while the broader market was up 0.5%. "The transaction continues the reshaping of the Suncorp Group, and positions both the general and life insurance businesses for ongoing growth and success," Suncorp CEO Steve Johnston said in a statement. Analysts at UBS said they believe the New Zealand life insurance unit, Asteron Life, was not core to the group and the divestment is "strategically attractive", allowing Suncorp to focus on its more attractive general insurance (GI) operations.

Reuters 24 days ago

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20 Biggest Financial and Banking Companies in Australia, 2024

In this article, we will look into the 20 biggest financial and banking companies in Australia in 2024. If you want to skip our detailed analysis, you can go directly to the 5 Biggest Financial and Banking Companies in Australia, 2024. Australian Economy and the Financial Sector According to the IMF, Australia boasts a GDP […]

Insider Monkey last month

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Suncorp Group (ASX:SUN) jumps 3.2% this week, though earnings growth is still tracking behind three-year shareholder returns

One simple way to benefit from the stock market is to buy an index fund. But if you pick the right individual stocks...

Simply Wall St. last month

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Is Suncorp Group Limited's (ASX:SUN) 8.7% ROE Strong Compared To Its Industry?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...

Simply Wall St. last month

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Australia competition regulator warns ANZ, Suncorp buyout ruling no green light

SYDNEY (Reuters) -The Australian Competition Tribunal's green light for ANZ's proposed A$4.2 billion ($3.2 billion) buyout of Suncorp's banking assets on Tuesday does not mean similar deals will be waved through, the head of the anti-trust regulator told Reuters. The ruling delivered by the ACT in Sydney meant ANZ could proceed with the deal despite the Australian Competition and Consumer Commission (ACCC) rejecting the bid on competition grounds last year. ACCC chairperson Gina Cass-Gottlieb told Reuters in a telephone interview that despite losing the ANZ and Suncorp case, the regulator would in future apply "careful consideration on the parties contemplating an acquisition".

Reuters 2 months ago

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Market reaction to approval for ANZ buyout of Suncorp unit

Australia's Competition Tribunal approved ANZ Group's A$4.9 billion ($3.2 billion) buyout of Suncorp's banking business on Tuesday, allowing the bank to press ahead the acquisition. The takeover still requires approval by Australian Treasurer Jim Chalmers and a sign-off from the government of Queensland, where Suncorp is based.

Reuters 2 months ago

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ANZ’s $3.2 Billion Suncorp Bank Buy Approved by Competition Tribunal

ANZ Group Holdings’ $3.2 billion acquisition of Suncorp Group’s banking unit has got a major boost with the Australian Competition Tribunal allowing the deal to proceed.

The Wall Street Journal 2 months ago

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ANZ's $3.2 billion Suncorp bank unit buyout approved by tribunal

SYDNEY (Reuters) -ANZ Group's A$4.9 billion ($3.2 billion) buyout of Suncorp's banking business was cleared by the Australian Competition Tribunal on Tuesday, paving the way for the bank to press on with the takeover of its significant rival. The ruling came in response to an appeal by ANZ and Suncorp of a decision by the Australian Competition and Consumer Commission (ACCC) that blocked the deal in August on the grounds it would limit competition in Australia's banking sector. On Tuesday, the Australian Competition Tribunal's deputy president, Justice John Halley, told the Federal Court in Sydney there were sufficient "net public benefits" to allow the deal to go ahead.

Reuters 2 months ago

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Do Suncorp Group's (ASX:SUN) Earnings Warrant Your Attention?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Simply Wall St. 3 months ago

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15 Best Flood Insurance Companies Heading into 2024

In this article, we will be navigating through the global flood insurance industry, its key players, and the 15 best flood insurance companies heading into 2024. If you wish to skip our detailed analysis, you can move directly to the 5 Best Flood Insurance Companies Heading into 2024. The Global Flood Insurance Industry: An Analysis […]

Insider Monkey 4 months ago

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Suncorp Group (ASX:SUN) shareholders have earned a 20% CAGR over the last three years

One simple way to benefit from the stock market is to buy an index fund. But if you pick the right individual stocks...

Simply Wall St. 6 months ago

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Suncorp banking chief executive Clive van Horen to depart by year-end

Clive van Horen, the chief executive of Suncorp's banking arm, is set to leave his role by the end of this year, according to an announcement made by Suncorp to the Australian Securities Exchange (ASX) on Tuesday. Van Horen, a former CommBank executive and South Africa native, has been leading Suncorp Bank since August 2020.

Investing.com 6 months ago

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Suncorp Group Limited's (ASX:SUN) CEO Looks Due For A Compensation Raise

Key Insights Suncorp Group will host its Annual General Meeting on 26th of September Salary of AU$2.03m is part of CEO...

Simply Wall St. 7 months ago

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Is Suncorp Group Limited's (ASX:SUN) ROE Of 8.7% Impressive?

Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...

Simply Wall St. 7 months ago

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Australia's corporate regulator calls for better handling of insurance claims

The Australian Securities and Investments Commission (ASIC) has commenced several investigations related to claims handling practices after its review of more than 218,000 claims lodged with six insurers, including Insurance Australia Group, QBE Insurance and Suncorp, during January-March 2022. The commission found insurers faced unduly pressure due to inclement weather events during and before the period. It also pointed out areas of improvement such as communications, project management and resourcing.

Reuters 8 months ago

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Suncorp Group (ASX:SUN) Is Increasing Its Dividend To A$0.27

Suncorp Group Limited ( ASX:SUN ) will increase its dividend from last year's comparable payment on the 25th of...

Simply Wall St. 8 months ago

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Here's Why We Think Suncorp Group (ASX:SUN) Might Deserve Your Attention Today

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...

Simply Wall St. 8 months ago

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Australia regulator blocks $3.2 billion ANZ-Suncorp bank deal

(Reuters) -Australia's competition regulator on Friday blocked a A$4.9 billion ($3.2 billion) buyout planned by No.4 bank ANZ Group of insurer Suncorp's banking arm, setting the scene for a drawn-out legal challenge. The Australian Competition and Consumer Commission (ACCC) said it was concerned a tie-up between the financial firms would worsen competition and "further entrench an oligopoly market structure" where four lenders including ANZ have three quarters of the country's A$2 trillion in home loans. "The proposed acquisition increases the likelihood that the major banks adopt a 'live and let live' approach to each other ... instead of competing strongly on price, innovation and the quality of their service," ACCC Deputy Chair Mick Keogh said in a statement on Friday.

Reuters 8 months ago

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Australian competition watchdog rejects ANZ’s $3.2B Suncorp deal

Investing.com -- Australia’s antitrust regulator said on Friday that it had rejected ANZ Group's (ASX:ANZ) A$4.9 billion (A$1 = $0.6555) acquisition of Suncorp Group's (ASX:SUN) banking arm, citing concerns over sufficient competition in the home loan industry.

Investing.com 8 months ago

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Aussie competition regulator delays decision on ANZ's $3.3 billion Suncorp Bank buy

The Australian Competition and Consumer Commission (ACCC) in a letter to ANZ on Thursday requested an extension till August 11, saying it needed more time to review reports and material longer than 50 pages. "It is important that the ACCC has the opportunity to meaningfully consider the new information provided by ANZ and take it into account in its decision making," the regulator said. "As a consequence, the ACCC considers that an extension to the timeframe of two weeks is both necessary and appropriate, and we now seek confirmation from ANZ that it agrees to that extension."

Reuters 9 months ago

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Performance Overview

Return	SUN.AX	S&P/ASX 200 [XJO]
YTD	+19.00%	-0.20%
1-Year	+34.13%	+3.55%
3-Year	+73.11%	+7.53%

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Suncorp Group Limited (SUN.AX)

Australia's Suncorp to sell NZ life insurance business for $246 million, shares rise

20 Biggest Financial and Banking Companies in Australia, 2024

Suncorp Group (ASX:SUN) jumps 3.2% this week, though earnings growth is still tracking behind three-year shareholder returns

Is Suncorp Group Limited's (ASX:SUN) 8.7% ROE Strong Compared To Its Industry?

Australia competition regulator warns ANZ, Suncorp buyout ruling no green light

Market reaction to approval for ANZ buyout of Suncorp unit

ANZ’s $3.2 Billion Suncorp Bank Buy Approved by Competition Tribunal

ANZ's $3.2 billion Suncorp bank unit buyout approved by tribunal

Do Suncorp Group's (ASX:SUN) Earnings Warrant Your Attention?

15 Best Flood Insurance Companies Heading into 2024

Suncorp Group (ASX:SUN) shareholders have earned a 20% CAGR over the last three years

Suncorp banking chief executive Clive van Horen to depart by year-end

Suncorp Group Limited's (ASX:SUN) CEO Looks Due For A Compensation Raise

Is Suncorp Group Limited's (ASX:SUN) ROE Of 8.7% Impressive?

Australia's corporate regulator calls for better handling of insurance claims

Suncorp Group (ASX:SUN) Is Increasing Its Dividend To A$0.27

Here's Why We Think Suncorp Group (ASX:SUN) Might Deserve Your Attention Today

Australia regulator blocks $3.2 billion ANZ-Suncorp bank deal

Australian competition watchdog rejects ANZ’s $3.2B Suncorp deal

Aussie competition regulator delays decision on ANZ's $3.3 billion Suncorp Bank buy

Performance Overview