Suncorp posts $1.03B FY26 profit, $250M buyback

• Suncorp reported a net profit after tax of $1.03 billion for FY26 alongside a planned $250 million share buyback.
• Following the earnings release, the Suncorp Group share price moved slightly lower on the local market.
• The company stated that disciplined capital management and underlying margin growth drove the financial result.

Suncorp Group (ASX:SUN) reported a net profit after tax of $1.03 billion alongside cash earnings of $1.04 billion for the 2026 financial year.

The profit figure is compared to the net profit after tax of $1.82 billion recorded in the prior corresponding period.

Suncorp CEO Steve Johnston said the result was achieved during a year when the group exceeded its $1.77 billion natural hazard allowance by $254 million and paid out more than $10 billion in claims.

"Going forward, Suncorp will have significant financial protection from a multi-year aggregate reinsurance cover which came into effect on June 30," Johnston added.

Gross written premium for the year reached $15.41 billion, while net investment returns stood at $554 million, down from $766 million a year earlier. Net incurred claims reached $10.24 billion, higher than the $9.25 billion recorded in the prior year.

The business declared a final ordinary dividend of 52 cents per share and a special dividend of 10 cents per share while planning an on-market share buy-back of up to $250 million.

Following the announcement, the Suncorp Group share price was down at $18.56.

The insurer operates as a general insurance provider across Australia and New Zealand following the completed divestment of its banking division.