30/06/2022 09:31

Suncorp Group Ltd (SUN) $11.08

SUN announced this week that they were more than open to selling off their banking arm to focus on the insurance business – nothing new this has been raised a number of times over the years. We have no doubt SUN would love to sell its banking arm but this is not a sellers’ market and like many things it all comes down to price plus of course the mountains of legislation/compliance that will have to be...

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01/06/2022 09:37

Suncorp Group Ltd (SUN) $11.35

SUN was the markets 2nd worst performing stock yesterday tumbling -6.4% following a downgrade by Morgan Stanley to both SUN and IAG Insurance (IAG) -3.1%, their main reasoning being fears around significant claim events due to evolving climate change risks. On Tuesday MM highlighted some short-term risks to the sector if financial markets decided they had become too hawkish and interest rates weren’t going...

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29/04/2022 09:01

Suncorp Group Ltd (SUN) $11.27

The insurance stocks feel like they’re gaining some strength as the banks slowly come off the boil, although a few days hardly makes a summer! Seasonally we know the banks struggle around this time, with 3 of the big 4 trading ex-dividend next month some overseas players are likely to sell out as they cannot benefit from the franking credits, conversely SUN doesn’t trade ex-div until August making...

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16/03/2022 17:02

Suncorp (SUN) $11.12

SUN +0.82%: the insurer closed the day higher despite lifting natural peril claim guidance following the devastating weather events across Australia’s east coast. Given the length of the severe weather, it was classed as 4 separate natural hazard events in their reinsurance cover resulting in a small $25m increase to natural hazard cost expectations for the year. The CEO was singing the praises of the company’s ability to respond to the devastation...

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10/03/2022 09:22

Suncorp Group Ltd (SUN) $10.25

Queensland based SUN has forecast its maximum retained cost from the floods will be about $75mn but although the stock delivered a solid result last month sentiment is clearly against the sector due to the combination of a nervous stock market, bond yields upside momentum waning on economic concerns around Ukraine and now the floods. The stocks strong yield and recent 24% pullback leaves us neutral to slightly bullish SUN.

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01/03/2022 09:02

Suncorp Group Ltd (SUN) $10.77

SUN gaped lower yesterday after the insurer said the current floods would cost the Queensland based insurer a maximum of $75m due to comprehensive reinsurance plans. Not too bad in our opinion considering they’ve already received over 5,000 claims due to the horrendous weather conditions that are now Sydney bound and importantly the company said its full year...

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09/02/2022 09:40

Suncorp Group Ltd (SUN) $12.03

SUN surged over 5% yesterday following a strong 1H22 result which beat expectations. Cash earnings of $361m were well ahead of the anticipated  ~$330m, plus the dividend of 23c was better than expected putting the stock on a estimated fully franked yield in excess of 5% over the next 12-months. While it was a challenging half the general insurance division...

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08/02/2022 17:05

Suncorp (SUN) $12.03

SUN +5.53: A positive session for the insurer / bank today following a strong beat at 1H22 results relative to expectations. While cash earnings of $361m were down 29% YoY, they were well ahead of the ~$330m expected while the dividend of 23c was also a beat. It was a challenging half no doubt, however the general insurance division benefitted from higher premiums, lower catastrophes and a better insurance margin. All in all, a good read through for IAG and the insurance sector more generally after a tough few years.

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30/11/2021 09:37

Suncorp Group (SUN) $10.65

Queensland based banking / insurer SUN has now corrected over 20% from its August high while over the same period QBE Insurance (QBE) which we hold has fallen less than 9% as it simply consolidates gains. At this stage we still like QBE but when the banks come back into favour SUN is likely to offer better sector exposure – importantly we feel banks are...

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15/10/2021 09:18

Suncorp (SUN) $12.52

Bank / insurer SUN was one of the markets worst performing stocks yesterday although it fell less than 2%. If the company experiences a tough few weeks MM will definitely have the stock on the radar, especially with its attractive forecasted 6.55% yield over the next 12-months making it a candidate for both of our Flagship Growth and Active Income Portfolios.

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